Sec. 885.202.  ADMISSION OF FOREIGN FRATERNAL BENEFIT SOCIETY.  (a)  To engage in business in this state, a foreign fraternal benefit society described by Section 885.201 must:
(1)  have the qualifications required of a domestic fraternal benefit society under this chapter;  and
(2)  have its assets invested as required by the laws of the state, territory, district, province, or country in which the society is organized.
(b)  A foreign fraternal benefit society described by Section 885.201 is entitled to a certificate of authority to engage in business in this state on filing with the department:
(1)  a certified copy of the society's charter or articles of association;
(2)  a copy of the fraternal benefit society's laws, certified by its secretary or corresponding officer;
(3)  a statement of the society's business;
(4)  a certificate from the proper official in the society's home state, province, or country showing that the society is legally organized;
(5)  a copy of the society's benefit contract;
(6)  information showing that the society's assets are invested as required by Subsection (a)(2);  and
(7)  additional information the commissioner considers necessary to demonstrate the society's business and method of operation.
(c)  A statement of business filed by a foreign fraternal benefit society under Subsection (b)(3) must:
(1)  be under oath of the society's president and secretary or corresponding officers;
(2)  be in the form required by the commissioner;  and
(3)  be verified by an examination made by the supervising insurance official of the society's home state or another state satisfactory to the commissioner.
(d)  A benefit contract filed by a foreign fraternal benefit society under Subsection (b)(5) must show that benefits are provided for by premiums paid by persons holding similar contracts.
(e)  The commissioner shall issue a certificate of authority to a foreign fraternal benefit society that complies with Subsection (b).
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.