Texas Insurance Code 841.253 – Life Insurance Company’s Payment of Dividends
Current as of: 2024 | Check for updates
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(a) A life insurance company may declare or pay a dividend to its:
(1) policyholders only from the expense loading and profits made by the company; and
(2) shareholders only from the company’s earned surplus, as defined by the commissioner.
(b) A life insurance company that is not showing a profit may pay a dividend on its participating policies from the expense loading on those policies.
(c) A life insurance company may not discriminate between policyholders in paying a dividend from the expense loading under this section.