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Texas Insurance Code - INS § 882.354. Dividend Payment Method

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

(a) A dividend declared by a mutual life insurance company under this subchapter shall be paid in:

(1) cash;  or

(2) the equivalent of the dividend's cash value as provided by an option stated in the policy and selected by the policyholder.

(b) A policyholder shall notify the company in writing of an option selected by the policyholder under Subsection (a)(2).

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 882.354. Dividend Payment Method - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-882-354/

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