Tex. Ins. Code Section 881.056
Issuance of Certificate or Policy to Separate Groups, Clubs, or Classes

(a)

A certificate or policy issued by the company to members of a group, club, or class may limit benefits under the certificate or policy to the assessments made, levied, and collected from the group, club, or class.

(b)

The assets or benefits of a group, club, or class may not be pledged or transferred without the consent of at least three-fourths of the members of the group, club, or class.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.

Source: Section 881.056 — Issuance of Certificate or Policy to Separate Groups, Clubs, or Classes, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­881.­htm#881.­056 (accessed Jun. 5, 2024).

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Accessed:
Jun. 5, 2024

§ 881.056’s source at texas​.gov