Texas § 885.156 SURETY BOND.

Texas Statutes

§ 885.156 — SURETY BOND.

Texas § 885.156

Code INInsurance Code

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Bluebook

Tex. Insurance Code Code Ann. § 885.156 (2026).

Text

Sec. 885.156. SURETY BOND.

(a)A fraternal benefit society must file with the department a bond in an amount not less than $300,000 and not more than $1.5 million, as required by the commissioner, with sureties approved by the commissioner.

(b)The bond must be conditioned on the return of advance payments to applicants for benefit certificates as provided by this subchapter if the fraternal benefit society fails to qualify under this subchapter within one year.

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Sec. 885.156. SURETY BOND. (a) A fraternal benefit society must file with the department a bond in an amount not less than $300,000 and not more than $1.5 million, as required by the commissioner, with sureties approved by the commissioner.
(b) The bond must be conditioned on the return of advance payments to applicants for benefit certificates as provided by this subchapter if the fraternal benefit society fails to qualify under this subchapter within one year.