Valuation of and Separate Fund For Disability Benefits

Sec. 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. June 1, 2003.