Every mutual and participating stock, fire, marine, fidelity, and casualty insurance company shall send a written dividend notice through its resident agent to all policyholders who have not renewed and who have not received their dividend as shown by the records of the company. Such notice shall be sent within 60 days of the expiration of the policy, and such notice should include receipt to be executed by the insured and shall state the amount of the dividend payable. The company shall cause payment of such dividend to be made within 10 days after receiving the dividend receipt properly executed and no policyholder shall be discriminated against because of the period of time for which insurance has been carried.