Tex. Ins. Code § 887.356

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 887.356 - Division of Funds: Assessment-As-Needed Associations

(a) An association operating on an assessment-as-needed basis shall divide collected assessments into at least:

(1) a mortuary fund; and

(2) an expense fund.

(b) An association under this section shall deposit into a mortuary fund an amount equal to at least 60 percent of the association's assessments, not including membership fees.

Tex. Ins. Code § 887.356

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. 6/1/2003.