Texas § IN.887.102 - EXEMPT ASSOCIATION
Full text of Texas The Texas Constitution § IN.887.102 — EXEMPT ASSOCIATION, with citation guidance and answers to common questions.
§ IN.887.102. EXEMPT ASSOCIATION
EXEMPT ASSOCIATION; PERMIT. (a) An association is not required to hold a certificate of authority under Section 887.101 if the association: (1) limits its membership to: (A) the employees and the families of employees of a particular designated firm, corporation, or individual; or (B) borrowers of a federal agency in this state and members of the borrower's immediate family who are living with the borrower and are not engaged in nonfarm work for their chief income; (2) has been in existence for at least five years; (3) is not operated for profit; and (4) does not pay commissions. (b) An association exempt under this section shall: (1) make annual reports to the department, on forms provided for that purpose, showing the financial condition of the association, receipts and expenditures of the association, and any other facts required by the department; and (2) obtain from the department a permit to engage in the business of insurance. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Frequently Asked Questions About Texas § IN.887.102
What does The Texas Constitution § IN.887.102 cover?
Section IN.887.102 ("EXEMPT ASSOCIATION") 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.887.102?
A common citation format is "The Texas Constitution § IN.887.102" (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.887.102 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.