§ 881.101 Types of Certificates or Policies Authorized
§ 881.102 Maximum Benefit Under Certificate or Policy
§ 881.103 Location of Issuance of Certificates or Policies
§ 881.104 Certificate or Policy and Application; Representations in Application
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Terms Used In Texas Insurance Code Chapter 881 > Subchapter C - Benefits Provided by Statewide Mutual Assessment Companies

  • 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.
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Property: means real and personal property. See Texas Government Code 311.005
  • Year: means 12 consecutive months. See Texas Government Code 311.005