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Texas Insurance Code - INS § 2054.254. Cash Dividends;  Credit on Renewal Premium

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) The company may pay a cash dividend or allow a credit on the renewal premium for a policyholder insured with the company, other than a policyholder insured under Subchapter H   1.

(b) Payment of a cash dividend or allowance of a credit:

(1) must be made in accordance with criteria approved by the board, which may consider the policyholder's safety record and performance;  and

(2) may be made only with the department's prior approval.

1  V.T.C.A., Insurance Code § 2054.351 et seq.
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Cite this article: FindLaw.com - Texas Insurance Code - INS § 2054.254. Cash Dividends;  Credit on Renewal Premium - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-2054-254/

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