Texas § IN.885.302 - ISSUANCE OF BENEFIT CONTRACTS ON VARIABLE BASIS
Full text of Texas The Texas Constitution § IN.885.302 — ISSUANCE OF BENEFIT CONTRACTS ON VARIABLE BASIS, with citation guidance and answers to common questions.
§ IN.885.302. ISSUANCE OF BENEFIT CONTRACTS ON VARIABLE BASIS
ISSUANCE OF BENEFIT CONTRACTS ON VARIABLE BASIS. A fraternal benefit society may, as provided by a resolution of its supreme governing body, establish and operate one or more separate accounts and issue benefit contracts on a variable basis, subject to laws regulating a life insurance company that establishes those types of accounts and issues those types of contracts. To comply with applicable federal or state laws or rules, the society may: (1) issue on a variable basis contracts to which Sections 885.306 (b) and (c) and 885.311 (a) do not apply; and (2) adopt special procedures for conducting the business and affairs of a separate account and provide special voting and other rights for a person having beneficial interests in a separate account, including special procedures and rights relating to: (A) investment policy; (B) investment advisory services; (C) selection of certified public accountants; and (D) selection of a committee to manage the business and affairs of the account. 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.885.302
What does The Texas Constitution § IN.885.302 cover?
Section IN.885.302 ("ISSUANCE OF BENEFIT CONTRACTS ON VARIABLE BASIS") 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.885.302?
A common citation format is "The Texas Constitution § IN.885.302" (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.885.302 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.