Texas Insurance Code

§ 403.001 — LIMITATION ON DIVIDENDS

IN § 403.001Title 4. REGULATION OF SOLVENCY · Part A. GENERAL PROVISIONS · Ch. 403. DIVIDENDS · Art. A. PAYMENT OF DIVIDENDS

Statute text

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An insurer organized under the laws of this state, including a life, health, fire, marine, or inland marine insurance company, may not pay a shareholder dividend except from surplus profits arising from the insurer's business. Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007. Amended by:

Legislative history

Acts 2013, 83rd Leg., R.S., Ch. 463 (S.B. 1006), Sec. 1, eff. June 14, 2013.