Tex. Ins. Code Section 887.102
Exempt Association; Permit


(a)

An association is not required to hold a certificate of authority under Section 887.101 (Certificate of Authority Required) if the association:

(1)

limits its membership to:

(A)

the employees and the families of employees of a particular designated firm, corporation, or individual; or

(B)

borrowers of a federal agency in this state and members of the borrower’s immediate family who are living with the borrower and are not engaged in nonfarm work for their chief income;

(2)

has been in existence for at least five years;

(3)

is not operated for profit; and

(4)

does not pay commissions.

(b)

An association exempt under this section shall:

(1)

make annual reports to the department, on forms provided for that purpose, showing the financial condition of the association, receipts and expenditures of the association, and any other facts required by the department; and

(2)

obtain from the department a permit to engage in the business of insurance.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.

Source: Section 887.102 — Exempt Association; Permit, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­887.­htm#887.­102 (accessed Jun. 5, 2024).

887.001
Definitions
887.002
Purpose
887.003
Applicability of Chapter
887.004
Inapplicability to Certain Organizations of Members of Religious Denomination
887.005
Department of Public Safety Employee Mutual Association
887.006
Construction
887.007
Deposit of Fees
887.008
Interpretation of Chapter by Commissioner
887.009
Rules
887.051
Bylaws
887.052
Amendment of Bylaws
887.053
Immunity
887.054
Financial Officer
887.055
Bond Requirements for Certain Persons
887.056
Recovery on Bond
887.057
Deposit
887.058
Change of Association’s Name
887.059
Books and Records
887.060
Annual Statement
887.061
Report on Condition of Association
887.062
Examination
887.063
Admitted Assets
887.064
Dividends
887.065
Merger
887.101
Certificate of Authority Required
887.102
Exempt Association
887.103
Refusal of Certificate of Authority or Permit
887.104
Refusal or Removal for Unworthiness of Public Trust
887.151
Classes of Members
887.152
Qualifying Membership in Association
887.153
Voting Rights of Members
887.154
Membership Records
887.155
Transfer of Membership or Merger of Classes
887.201
Limit on Life Insurance
887.202
Stipulated Premium Plan
887.203
Issuance of Life Insurance Policy by Certain Associations
887.204
Renewal or Reinstatement of Insurance Certificate
887.205
Life Insurance Certificate Beneficiaries
887.206
Payment of Claim
887.207
Exception to Full Payment Requirement: Assessment-as-needed Associations
887.208
Contested Claims
887.209
Venue
887.210
Reinsurance
887.251
General Requirements for Insurance Certificate and Application Forms
887.252
Application for Insurance Certificate
887.253
Life Insurance Certificate Forms
887.254
Health and Accident Insurance Certificate Forms
887.255
Life Insurance Benefit Reductions and Exclusions
887.256
Form Approval
887.301
Assessments Required
887.302
Authority to Increase Assessment Rates on Certain Insurance Certificates
887.303
Approval Required for Certain Rate Increases
887.304
Limit on Rate Increases
887.305
Expense Loading on Certain Insurance Certificates
887.306
Assessment-as-needed Associations: Payments on Certain Insurance Certificates
887.307
Revenue of Association
887.308
Suspension of Member for Nonpayment
887.309
Failure to Comply with Certain Commissioner Orders
887.351
Mortuary and Expense Funds
887.352
Limits on Use of Funds
887.353
Division of Funds: Certain Life Insurance Certificates
887.354
Division of Funds: Accident and Health Insurance Certificates and Certain Life Insurance Certificates
887.355
Division of Funds: Certain Life Insurance Certificates with No Rate Increase
887.356
Division of Funds: Assessment-as-needed Associations
887.357
Investment of Funds
887.358
Payment of Taxes on Mortuary Fund Income
887.359
Payment of Reinsurance Premium
887.360
Cost of Defending Contested Claims
887.401
Reserves on Individual Life Insurance Certificates
887.402
Reserves on Family Group Life Insurance Certificates
887.403
Issue Year and Issue Age in Certain Insurance Certificates
887.404
Reserves on Accident, Health, and Hospitalization Insurance Certificates
887.405
Computation of Reserve Liability
887.406
Increase of Reserves
887.407
Nonapplicability to Assessment-as-needed Associations
887.451
Authorization to Convert or Reinsure
887.452
Proposal for Conversion or Reinsurance
887.453
Members Meeting
887.454
Members Meeting
887.455
Completion and Legal Effect of Conversion or Reinsurance
887.456
Continuing Obligations of Converted or Reinsured Association
887.457
Disbursement of Mortuary Fund
887.501
Applicability of Subchapter
887.502
Authorization to Convert
887.503
Approval by Membership
887.504
Amendment of Charter or Articles of Association Required
887.505
Exchange of Insurance Certificates
887.506
Completion of Conversion
887.507
Legal Effect of Conversion
887.508
Exemption from Capital and Surplus Requirements
887.509
Limits on Operation of Converted Association
887.510
Increase of Capital and Surplus Required
887.551
Hazardous Financial Condition, Supervision, Conservatorship, and Liquidation
887.701
Unlawful Conversion
887.702
Diversion of Special Funds
887.703
Appropriation of Money
887.704
Violation of Commissioner Order
887.705
Other Violations

Accessed:
Jun. 5, 2024

§ 887.102’s source at texas​.gov