§ 881.051 Authority to Act as Statewide Mutual Assessment Company
§ 881.052 Applicability of Texas Non-Profit Corporation Act
§ 881.053 Separate Groups, Clubs, or Classes
§ 881.054 Minimum Membership Required
§ 881.055 Use of Company Name
§ 881.056 Issuance of Certificate or Policy to Separate Groups, Clubs, or Classes
§ 881.057 Insufficient Membership: Consolidation or Discontinuation of Group, Club, or Class or Liquidation of Company
§ 881.058 Agent
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Terms Used In Texas Insurance Code Chapter 881 > Subchapter B - Structure and Operation of Statewide Mutual Assessment Companies

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
  • sworn: includes affirm or affirmed. See Texas Government Code 312.011
  • Year: means 12 consecutive months. See Texas Government Code 311.005