All codes › Insurance Code › Title 6

Chapter 882

Mutual Life Insurance Companies

Subchapter A. General Provisions

882.001 Applicability of This Chapter and Other Law 882.002 Examination of Company 882.003 Annual Statement

Subchapter B. Formation and Structure of Mutual Life Insurance Company

882.051 Authority to Form Company; Purpose 882.052 Formation of Company; Articles of Incorporation 882.053 Company's Name 882.054 Initial Board of Directors; Term 882.055 Unencumbered Surplus Requirements 882.056 Application for Charter 882.057 Application Process 882.058 Action on Application 882.059 Examination After Determination

Subchapter C. Authority to Engage in Business

882.101 Issuance of Certificate of Authority

Subchapter D. Management of Mutual Life Insurance Company

882.151 Board of Directors 882.152 Adoption of Initial Bylaws 882.153 Annual Meeting 882.154 Staggered Terms for Large Board of Directors 882.155 Voting by Policyholders 882.156 Officers 882.157 Officer Bonds 882.158 Bylaws Must Comply with Law

Subchapter E. Agents

882.201 Applicability of Subchapter 882.202 Issuance of License to Agent 882.203 Limitation on Agent Compensation

Subchapter F. General Financial Requirements

882.251 Limited Authority to Borrow Money 882.252 Investment of Money 882.253 Loans to Company

Subchapter G. Unencumbered Surplus Requirements

882.301 Amount of Unencumbered Surplus 882.302 Exemption for Certain Companies 882.303 Unencumbered Surplus Less Than $25,000 882.304 Investment of Excess Unencumbered Surplus 882.305 Impairment of Unencumbered Surplus 882.306 Impairment of Unencumbered Surplus; Appointment of Receiver

Subchapter H. Dividends

882.351 Policyholder's Entitlement to Dividend 882.352 Accounting and Procedure for Allocation of Divisible Surplus; Report to Commissioner 882.353 Department Approval of Allocation; Revisions 882.354 Dividend Payment Method 882.355 Limitations on Divisible Surplus 882.356 Payment of Dividends Not Required

Subchapter I. Contingency Reserve

882.401 Amount of Contingency Reserve 882.402 Excess Contingency Reserve 882.403 Contingency Reserve Requirements 882.404 Allocation of Contingency Reserve to Unencumbered Surplus 882.405 Designation of Contingency Reserve as Unassigned Surplus

Subchapter J. Policy Requirements

882.451 Applicability of Certain Provisions 882.452 Type of Policy Authorized 882.453 Policy Form 882.454 Limitation on Amount of Policy Value for Certain Companies 882.455 Table of Guaranteed Values

Subchapter K. Total Assumption Reinsurance Agreements

882.501 Total Assumption Reinsurance Agreements Between Life Insurance Companies

Subchapter L. Mergers and Consolidations

882.551 Applicability of Subchapter 882.552 Authority to Merge or Consolidate 882.553 Proposed Plan of Merger or Consolidation; Filing with Commissioner 882.554 Hearing on Plan 882.555 Commissioner Determination on Plan 882.556 Approval of Plan by Policyholders 882.557 Domestic Stock Life Insurance Company; Approval of Plan by Shareholders 882.558 Foreign Life Insurance Company; Approval of Plan by Policyholders or Shareholders 882.559 Filing of Affidavit of Plan Approval; Issuance of Certificate of Merger or Consolidation 882.560 Effective Date of Merger or Consolidation 882.561 Assumption of Outstanding Insurance Policies 882.562 Assumption of Liabilities 882.563 Effect of Merger or Consolidation on Property 882.564 Effect of Merger or Consolidation on Certain Investments 882.565 Effect of Merger or Consolidation on Divisible Surplus 882.566 Effect on Antitrust Laws

Subchapter M. Conversion of Mutual Life Insurance Company to Stock Legal Reserve Life Insurance Company

882.601 Authority to Convert to Stock Legal Reserve Life Insurance Company; Policyholder Authorization Required 882.602 Amendment to Charter or Articles of Incorporation Required 882.603 Capital and Surplus Requirements 882.604 Hearing 882.605 Conversion on Commissioner Approval 882.606 Applicable Law After Conversion 882.607 Other Types of Conversion Not Prohibited

Subchapter N. Conversion of Certain Mutual Assessment Companies or Associations to Mutual Life Insurance Companies

882.651 Authority to Convert 882.652 Voluntary Conversion 882.653 Conversion Requirements 882.654 Exemption from Surplus Requirements 882.655 Applicable Law After Conversion

Subchapter O. Enforcement Provisions

882.701 Applicability of Subchapter 882.702 Investment and Deposit of Funds; Criminal Penalty 882.703 Policy Form; Revocation of Certificate

Subchapter P. Conversion of Mutual Life Insurance Company to Insurance Holding Company and Stock Life Insurance Company

882.751 Authority to Convert 882.752 Application of Other Law 882.753 Jurisdiction of Commissioner 882.754 Incorporation Requirements 882.755 Articles of Incorporation 882.756 Sale of Securities