Tex.
Ins. Code Section 885.411
Examination of Foreign Fraternal Benefit Societies
(a)
The commissioner or a person appointed by the commissioner may examine a foreign fraternal benefit society transacting or applying for admission to engage in business in this state. The commissioner may employ assistants for this purpose.(b)
The commissioner or a person appointed by the commissioner to examine a foreign fraternal benefit society:(1)
is entitled to free access to all books, papers, and documents that relate to the business of the society; and(2)
may summon, qualify as witnesses under oath, and examine the society’s officers, agents, and employees and other persons in relation to the affairs, transactions, and conditions of the society.(c)
Instead of an examination under this section, the commissioner may accept the examination of the insurance department of the state, territory, district, province, or country in which a foreign fraternal benefit society is organized.(d)
If a foreign fraternal benefit society or the society’s officers refuse to permit an examination under this section or to comply with the provisions of law relating to an examination, the commissioner shall suspend the society’s authority to write new business in this state or refuse the society’s application for a certificate of authority. A suspension or refusal under this subsection continues until the commissioner receives satisfactory evidence relating to the condition and affairs of the society. A foreign fraternal benefit society may not write any new business in this state during a suspension under this subsection.(e)
A foreign fraternal benefit society is subject to the provisions of Subchapter A, Chapter 86 (Revocation or Modification of Certificate of Authority; Authority to Bring Certain Actions), and Sections 401.051 (Duty to Examine Carriers), 401.052 (Frequency of Examination), 401.054-401.062, 401.151 (Expenses of Examination of Domestic Insurer), 401.152 (Expenses of Examination of Other Insurers), 401.155 (Additional Assessments), and 401.156 (Deposit and Use of Assessment and Fee) that apply to an insurer that is not organized under the laws of this state but is authorized to engage in business in this state.
Source:
Section 885.411 — Examination of Foreign Fraternal Benefit Societies, https://statutes.capitol.texas.gov/Docs/IN/htm/IN.885.htm#885.411 (accessed Jun. 5, 2024).
