Texas § 887.355 DIVISION OF FUNDS: CERTAIN LIFE INSURANCE CERTIFICATES WITH NO RATE INCREASE.

Texas Statutes

§ 887.355 — DIVISION OF FUNDS: CERTAIN LIFE INSURANCE CERTIFICATES WITH NO RATE INCREASE.

Texas § 887.355

Code INInsurance Code

This text of Texas § 887.355 (DIVISION OF FUNDS: CERTAIN LIFE INSURANCE CERTIFICATES WITH NO RATE INCREASE.) 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. § 887.355 (2026).

Text

Sec. 887.355. DIVISION OF FUNDS: CERTAIN LIFE INSURANCE CERTIFICATES WITH NO RATE INCREASE.

(a)This section applies to a life insurance certificate in force on December 31, 1965, on which the assessment rate has not been increased.

(b)An association may:

(1)deposit in a mortuary fund at least the net renewal premium, based on the reserve table adopted by the association; and

(2)deposit in an expense fund the remaining portion of the premium.

(c)This section does not apply to an association operating on an assessment-as-needed basis.

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Sec. 887.355. DIVISION OF FUNDS: CERTAIN LIFE INSURANCE CERTIFICATES WITH NO RATE INCREASE. (a) This section applies to a life insurance certificate in force on December 31, 1965, on which the assessment rate has not been increased.
(b) An association may:
(1) deposit in a mortuary fund at least the net renewal premium, based on the reserve table adopted by the association; and
(2) deposit in an expense fund the remaining portion of the premium.
(c) This section does not apply to an association operating on an assessment-as-needed basis.