Sec. 21.84.625. Service of process.
(a) A society authorized to do business in this state shall appoint in writing the director and the director’s successors in office to be its true and lawful attorney upon whom all lawful process in an action or proceeding against it shall be served. The society shall agree in writing that any lawful process against […]
Sec. 21.84.265. Nonforfeiture benefits, cash surrender values, certificate loans, and other options.
(a) For certificates issued before one year after the January 1, 1998, the value of a paid-up nonforfeiture benefit and the amount of a cash surrender value, loan, or other option granted shall comply with the provisions of law applicable on December 31, 1997. (b) For certificates issued on or after January 1, 1999 for […]
Sec. 21.84.275. Investments.
A society shall invest its funds only in investments authorized by the laws of this state for the investment of assets of life insurers and subject to the limitations on the investment of assets of life insurers. A foreign or alien society permitted or seeking to do business in this state that invests its funds […]
Sec. 21.84.320. Funds.
(a) All assets shall be held, invested, and disbursed for the use and benefit of the society, and a member or beneficiary may not have or acquire individual rights or become entitled to an apportionment or the surrender of a part of the assets, except as provided in the benefit contract. (b) A society may […]
Sec. 21.84.335. Applicability of other code provisions.
(a) Except as provided in this section, societies are governed by this chapter and are exempt from all other provisions of the insurance laws of this state for all purposes, including governmental relations with the state. (b) In addition to the provisions of this chapter, the following provisions of this title apply to fraternal benefit […]
Sec. 21.84.400. Taxation.
Every society organized or licensed under this chapter is a charitable and benevolent institution, and all of its funds shall be exempt from every state, or other political subdivision, tax other than taxes on real estate and office equipment.
Sec. 21.84.100. Certificate of authority.
The director may make the examination and require further information the director considers advisable. Upon presentation of satisfactory evidence that the domestic society has complied with all the provisions of law, the director shall issue to the society a certificate of authority to that effect and that the society is authorized to transact business under […]
Sec. 21.84.455. Valuation.
(a) Standards of valuation for certificates issued before January 1, 1999 shall be those provided by the laws applicable immediately before January 1, 1998. (b) The minimum standards of valuation for certificates issued on or after January 1, 1999 shall be based on the following tables, which shall be under valuation methods and standards, including […]
Sec. 21.84.120. Corporate powers retained.
An incorporated society authorized to transact business in this state on January 1, 1998, may not be required to reincorporate.
Sec. 21.84.465. Reports.
(a) Reports shall be filed in accordance with the provisions of this section. (b) A society transacting business in this state shall annually, before March 2, unless the time has been extended by the director for cause shown, file with the director a true statement of the society’s financial conditions, transactions, and affairs for the […]