Texas Insurance Code 885.252 – Powers of Certain Fraternal Benefit Societies
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(a) A fraternal benefit society engaged in business in this state on July 1, 1913, may exercise:
(1) each right conferred by this chapter; and
(2) if the society is incorporated, each right, power, or privilege exercised or possessed as of July 1, 1913, by the society under its charter or articles of incorporation consistent with this chapter.
(b) A fraternal benefit society engaged in business in this state on July 1, 1913, that is a voluntary association may incorporate under this chapter.
Terms Used In Texas Insurance Code 885.252
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
(c) A fraternal benefit society organized as of July 1, 1913, is not required to reincorporate under this chapter and may amend the society’s articles of incorporation in the manner provided in the articles or the fraternal benefit society’s laws. A society shall file an amendment described by this subsection with the department. The amendment becomes operative on filing unless a later time is provided in the amendment or in the fraternal benefit society’s articles of incorporation or laws.