Texas § 887.203 ISSUANCE OF LIFE INSURANCE POLICY BY CERTAIN ASSOCIATIONS.

Texas Statutes

§ 887.203 — ISSUANCE OF LIFE INSURANCE POLICY BY CERTAIN ASSOCIATIONS.

Texas § 887.203

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This text of Texas § 887.203 (ISSUANCE OF LIFE INSURANCE POLICY BY CERTAIN ASSOCIATIONS.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Insurance Code Code Ann. § 887.203 (2026).

Text

Sec. 887.203. ISSUANCE OF LIFE INSURANCE POLICY BY CERTAIN ASSOCIATIONS.

(a)A local mutual aid association or statewide mutual assessment company that has a mortuary fund and expense fund with a combined value of at least $100,000 greater than the liabilities of the combined funds may issue a life insurance policy in the same manner as a company organized under Chapter 841 .

(b)An insurance policy issued as provided by Subsection (a):

(1)may not insure an individual life for more than $5,000;

(2)must be reserved as required for a company organized under Chapter 841 ; and

(3)may be issued only on an endowment or limited pay basis.

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Sec. 887.203. ISSUANCE OF LIFE INSURANCE POLICY BY CERTAIN ASSOCIATIONS. (a) A local mutual aid association or statewide mutual assessment company that has a mortuary fund and expense fund with a combined value of at least $100,000 greater than the liabilities of the combined funds may issue a life insurance policy in the same manner as a company organized under Chapter 841 .
(b) An insurance policy issued as provided by Subsection (a):
(1) may not insure an individual life for more than $5,000;
(2) must be reserved as required for a company organized under Chapter 841 ; and
(3) may be issued only on an endowment or limited pay basis.