Texas Insurance Code 882.354 – Dividend Payment Method
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(a) A dividend declared by a mutual life insurance company under this subchapter shall be paid in:
(1) cash; or
(2) the equivalent of the dividend’s cash value as provided by an option stated in the policy and selected by the policyholder.
(b) A policyholder shall notify the company in writing of an option selected by the policyholder under Subsection (a)(2).
Terms Used In Texas Insurance Code 882.354
- in writing: includes any representation of words, letters, or figures, whether by writing, printing, or other means. See Texas Government Code 312.011