Tex. Ins. Code § 1806.154 · Subchapter D. PROVISIONS APPLICABLE TO FIRE INSURANCE AND ALLIED LINES
PROFIT SHARING AUTHORIZED.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Section 1806.153 does not prohibit an insurer from sharing profits with the insurer's policyholders if:
(1) a profit sharing agreement is placed on or in the face of the policy;
(2) the profit sharing is uniform and does not discriminate among individuals or among classes; and
(3) the profit is not distributed to an insured before the expiration of the insurance policy.
(b) An insurer or an insurer's officer, director, agent, or other representative that violates this section has engaged in unjust discrimination.
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.1806.htm
- Text hash
- sha256 4c5beeee919c1651e104981c69c02e4d03f78d5d4895d37be5803a54fa73c931
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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