Texas Insurance Code 964.063 – Dividends and Distributions
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(a) A captive insurance company shall notify the commissioner in writing when issuing policyholder dividends or distributions to policyholders.
(b) A captive insurance company, with the commissioner’s approval, may issue dividends or distributions to the holders of an equity interest in the captive insurance company. The commissioner shall adopt rules to implement this subsection.
Terms Used In Texas Insurance Code 964.063
- in writing: includes any representation of words, letters, or figures, whether by writing, printing, or other means. See Texas Government Code 312.011