Tex. Insurance Code § 885.063
This is the official text of Tex. Insurance Code § 885.063, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
§ 885.063. MERGER OR TRANSFER OF MEMBERSHIP OR FUNDS.
Official statutory text
(a) A domestic fraternal benefit society may not merge with or accept a transfer of the membership or funds of another fraternal benefit society unless:
(1) the merger or transfer is evidenced by a written contract that fully sets out the terms of the merger or transfer; and
(2) the societies file with the department:
(A) a copy of the contract;
(B) a sworn statement of the financial condition of each society by its president and secretary or corresponding officers; and
(C) a certificate of those officers, verified under oath, that the merger or transfer has been approved by a vote of two-thirds of the members of the supreme governing body of each society.
(b) On submission, the commissioner shall examine the contract, financial statements, and certificates. The commissioner shall approve the merger or transfer and issue a certificate to that effect if the commissioner determines that:
(1) the contract conforms with this section and Section 885.052(d);
(2) the financial statements are correct;
(3) the merger or transfer is just and equitable to the members of each society; and
(4) the new or surviving society complies with each requirement of a fraternal benefit society under this chapter.
(c) A contract of merger or transfer takes effect on issuance of a certificate under Subsection (b).
(1) the merger or transfer is evidenced by a written contract that fully sets out the terms of the merger or transfer; and
(2) the societies file with the department:
(A) a copy of the contract;
(B) a sworn statement of the financial condition of each society by its president and secretary or corresponding officers; and
(C) a certificate of those officers, verified under oath, that the merger or transfer has been approved by a vote of two-thirds of the members of the supreme governing body of each society.
(b) On submission, the commissioner shall examine the contract, financial statements, and certificates. The commissioner shall approve the merger or transfer and issue a certificate to that effect if the commissioner determines that:
(1) the contract conforms with this section and Section 885.052(d);
(2) the financial statements are correct;
(3) the merger or transfer is just and equitable to the members of each society; and
(4) the new or surviving society complies with each requirement of a fraternal benefit society under this chapter.
(c) A contract of merger or transfer takes effect on issuance of a certificate under Subsection (b).
Status: in_force · Read it on the official government site
Need a lawyer in Texas?
Find a Texas lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.