1. (a) A fraternal benefit society that provides benefits for death or disability resulting from accidents only and does not provide death benefits or benefits for sickness may hold a certificate of authority under this chapter if the society:

   1. (1) was organized and incorporated before July 1, 1913; and
   2. (2) operates as provided by Sections 885.051-885.054 and 885.062.

2. (b) A fraternal benefit society that holds a certificate of authority as provided by Subsection (a) may exercise all the privileges provided by and is subject to this chapter other than:

   1. (1) provisions requiring medical examination;
   2. (2) provisions requiring that a benefit certificate specify the amount of benefits; and
   3. (3) provisions relating to the valuation of benefit certificates.

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.