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Tex. Insurance Code § 887.355

DIVISION OF FUNDS: CERTAIN LIFE INSURANCE CERTIFICATES WITH NO RATE INCREASE

Texas · Texas Insurance Code · Status: effective

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Tex. Insurance Code § 887.355, DIVISION OF FUNDS: CERTAIN LIFE INSURANCE CERTIFICATES WITH NO RATE INCREASE, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/680279
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(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.