Texas § IN.887.301 - ASSESSMENTS REQUIRED
Full text of Texas The Texas Constitution § IN.887.301 — ASSESSMENTS REQUIRED, with citation guidance and answers to common questions.
§ IN.887.301. ASSESSMENTS REQUIRED
ASSESSMENTS REQUIRED. (a) An association shall levy regular and periodic assessments on its membership in amounts and at intervals necessary to: (1) meet the reasonable operating expenses of the association; and (2) allow the association to pay in full any claims arising under its insurance certificates. (b) An association may also levy an assessment for surplus funds. (c) An association shall specify the purpose of an assessment. (d) An assessment on a life insurance certificate issued after May 21, 1965, insuring the life of one or more individuals must be: (1) in accordance with the reserve standard adopted by the association and approved by the commissioner, except that an association may use the 1956 Chamberlain Reserve Table with interest not to exceed 3-1/2 percent a year; and (2) in an amount sufficient to deposit in the mortuary fund an amount at least equal to the renewal net premiums computed in accordance with the reserve standard adopted by the association and approved by the commissioner. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Frequently Asked Questions About Texas § IN.887.301
What does The Texas Constitution § IN.887.301 cover?
Section IN.887.301 ("ASSESSMENTS REQUIRED") 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.887.301?
A common citation format is "The Texas Constitution § IN.887.301" (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.887.301 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.