Tex. Ins. Code § 887.064 · Subchapter B. GENERAL POWERS AND DUTIES; OFFICERS AND DIRECTORS
DIVIDENDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
If the amount of an association's mortuary fund exceeds the amount of reserves required by Subchapter I, the association may pay dividends from the fund to its certificate holders. The amount of the dividends and the method of distribution of the dividends must be:
(1) equitable and nondiscriminatory; and
(2) approved by the department before payment.
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.887.htm
- Text hash
- sha256 244f79ddb5554657e1b3cb9b9cbd7d271834ea30fb9098f2d37555414f1e8578
- 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 § 887.064. 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.