Tex. Insurance Code § 887.355
This is the official text of Tex. Insurance Code § 887.355, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 887.355.
Official statutory text
Sec. 887.355. DIVISION OF FUNDS: CERTAIN LIFE INSURANCE CERTIFICATES WITH NO RATE INCREASE. (a) This section applies to a life insurance certificate in force on December 31, 1965, on which the assessment rate has not been increased.
(b) An association may:
(1) deposit in a mortuary fund at least the net renewal premium, based on the reserve table adopted by the association; and
(2) deposit in an expense fund the remaining portion of the premium.
(c) This section does not apply to an association operating on an assessment-as-needed basis.
(b) An association may:
(1) deposit in a mortuary fund at least the net renewal premium, based on the reserve table adopted by the association; and
(2) deposit in an expense fund the remaining portion of the premium.
(c) This section does not apply to an association operating on an assessment-as-needed basis.
Status: in_force · Read it on the official government site
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