Tex. Ins. Code § 841.253 · Subchapter F. GENERAL POWERS, DUTIES, AND LIMITATIONS
LIFE INSURANCE COMPANY'S PAYMENT OF DIVIDENDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(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.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.841.htm
- Text hash
- sha256 4c7a8b5b640ea1692f07a4be01652960ffd64597e8244cff75b76da8ab63dfdc
- 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
Cited by 1 provision
Provisions in this library whose text cites Tex. Ins. Code § 841.253. Each shows the citation as that text prints it.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.