Exams / Texas Life Insurance License / Tex. Ins. Code §885.051
Tex. Ins. Code §885.051 — what it says, and how the exam tests it
This section is cited by 2 of our practice questions and is tested on 2 exams including the Texas Life Insurance License.
The text
Sec. 885.051. FRATERNAL BENEFIT SOCIETY DEFINED. A corporation, society, order, or voluntary association is a fraternal benefit society if it: (1) has a lodge system and a representative form of government or limits its membership to a secret fraternity that has a lodge system and a representative form of government; (2) is organized and operated solely for the mutual benefit of its members and their beneficiaries and not for profit; (3) does not have capital stock; and (4) provides for the payment of benefits in accordance with Section 885.301. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Public record. Read the full, current section at the official source: tcss.legis.texas.gov
How it comes up on the exam
Practice questions written from this section — answers and explanations are in the drill.
- Under Tex. Ins. Code §885.051, a fraternal benefit society must be organized and operated solely for what purpose?
drill Texas Statutes and Rules Common to Life and Health Insurance → - Under Texas Insurance Code, which of the following is a required characteristic for a corporation to qualify as a fraternal benefit society?
drill Texas Statutes and Rules Common to Life and Health Insurance →