Tex. Ins. Code § 882.355 · Subchapter H. DIVIDENDS
LIMITATIONS ON DIVISIBLE SURPLUS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
A mutual life insurance company's divisible surplus available for payment of dividends to the company's policyholders may not include:
(1) any part of the company's unencumbered surplus that has been:
(A) allocated from the company's earned surplus;
(B) transferred from the company's contingency reserve; or
(C) otherwise acquired by the company;
(2) if the company was organized after September 5, 1955, any part of the company's unencumbered surplus required to comply with Section 882.301; or
(3) if the company's unencumbered surplus is less than $25,000, the part of the company's earned surplus for the preceding calendar year in excess of 75 percent of the earned surplus.
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.882.htm
- Text hash
- sha256 4c67c7d5fcc1059b3dce83eee117649fb9b511762e8fc68a47c0e2711a8abadb
- 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
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
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.