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Texas Insurance Code - INS § 841.253. Life Insurance Company's Payment of Dividends

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

(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.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 841.253. Life Insurance Company's Payment of Dividends - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-841-253/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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