(a) A fraternal benefit society may not deliver or issue for delivery in this state a benefit certificate unless the form of the certificate has been filed under Chapter 1701.
(b) Each benefit certificate issued by a fraternal benefit society must:
(1) specify the amount of benefits provided under the certificate;
(2) state the amount of premiums that are payable under the certificate; and
(3) provide that the certificate, the society’s charter or articles of incorporation or, if the society is a voluntary association, the society’s articles of association, the fraternal benefit society’s laws, the application for membership and medical examination, signed by the applicant, and all amendments to each of those constitute the agreement between the society and the member.

Terms Used In Texas Insurance Code 885.306

  • 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.
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Rule: includes regulation. See Texas Government Code 311.005
  • Signed: includes any symbol executed or adopted by a person with present intention to authenticate a writing. See Texas Government Code 311.005

(c) An amendment to a fraternal benefit society’s charter, articles of incorporation or association, or laws made or enacted after the issuance of a benefit certificate:
(1) binds the member and the member’s beneficiaries; and
(2) controls the agreement in all respects as if the amendment had been in force at the time of the application for membership.
(d) A life, accident, health, or disability insurance benefit certificate or annuity benefit certificate issued by a fraternal benefit society must meet the requirements applicable to similar policies issued by an insurer in this state that are not inconsistent with this chapter as determined by rule of the commissioner.
(e) A copy of a document described by Subsection (b)(3), certified by a fraternal benefit society’s secretary or corresponding officer, shall be admitted as evidence of the terms of the agreement between the society and the member.

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