FRATERNAL BENEFIT SOCIETY DEFINED.
Tex. INS Code § 885.051.
in effectA corporation, society, order, or voluntary association is a fraternal benefit society if it:
(1) has a lodge system and a representative form of government or limits its membership to a secret fraternity that has a lodge system and a representative form of government;
(2) is organized and operated solely for the mutual benefit of its members and their beneficiaries and not for profit;
(3) does not have capital stock; and
(4) provides for the payment of benefits in accordance with Section 885.301 .
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.