Texas Insurance Code 885.312 – Continuation of Benefit Certificate On Expulsion or Suspension of Member
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Texas Insurance Code 885.312
- Contract: A legal written agreement that becomes binding when signed.
If a fraternal benefit society’s laws provide for expulsion or suspension of a member, the benefit certificate must provide that a member who is expelled or suspended may maintain the certificate in force by continuing payment of the required premium unless the expulsion or suspension:
(1) is for nonpayment of a premium; or
(2) occurs within the contestable period of the benefit contract and is for material misrepresentation in the application for membership or insurance.