Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
Section 885.405 - Valuation of and Separate Fund for Disability Benefits(a) A fraternal benefit society that provides for disability benefits shall keep the net premiums for disability benefits in a fund separate from all other benefit and expense funds and the valuation of all other business of the society.(b) Notwithstanding Subsection (a), if a fraternal benefit society uses a combined premium table for both death and permanent total disability benefits:(1) the valuation must be according to tables of reliable experience; and(2) the society is not required to maintain a separation of those funds.Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. 6/1/2003.