Tex. Insurance Code § 885.156
This is the official text of Tex. Insurance Code § 885.156, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 885.156. SURETY BOND.
Official statutory text
(a) A fraternal benefit society must file with the department a bond in an amount not less than $300,000 and not more than $1.5 million, as required by the commissioner, with sureties approved by the commissioner.
(b) The bond must be conditioned on the return of advance payments to applicants for benefit certificates as provided by this subchapter if the fraternal benefit society fails to qualify under this subchapter within one year.
(b) The bond must be conditioned on the return of advance payments to applicants for benefit certificates as provided by this subchapter if the fraternal benefit society fails to qualify under this subchapter within one year.
Status: in_force · Read it on the official government site
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