Texas § IN.883.155 - ISSUANCE OF POLICY FOR CASH PREMIUM ONLY
Full text of Texas The Texas Constitution § IN.883.155 — ISSUANCE OF POLICY FOR CASH PREMIUM ONLY, with citation guidance and answers to common questions.
§ IN.883.155. ISSUANCE OF POLICY FOR CASH PREMIUM ONLY
ISSUANCE OF POLICY FOR CASH PREMIUM ONLY. (a) A domestic mutual insurance company may not issue an insurance policy for a cash premium only unless: (1) the company possesses surplus above all liabilities in an amount at least equal to the minimum capital and surplus required of a stock insurance company engaging in the same kinds of insurance; (2) the company files with the department: (A) an application for the issuance of this type of policy; and (B) a certified copy of the resolution of the company's board of directors authorizing the issuance; and (3) the commissioner approves the documents filed under Subdivision (2). (b) A mutual insurance company that issues a policy for a cash premium only may waive all contingent premiums in any outstanding policies. (c) A foreign mutual insurance company authorized to engage in the business of insurance in this state may issue an insurance policy for a cash premium only and may waive contingent premiums on any of its outstanding policies in the same manner and subject to the same requirements as a mutual insurance company under this section that is engaged in the same kinds of insurance. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § IN.883.155
What does The Texas Constitution § IN.883.155 cover?
Section IN.883.155 ("ISSUANCE OF POLICY FOR CASH PREMIUM ONLY") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § IN.883.155?
A common citation format is "The Texas Constitution § IN.883.155" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § IN.883.155 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.