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Tex. Insurance Code § 884.253

DIVIDENDS

Texas · Texas Insurance Code · Status: effective

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Tex. Insurance Code § 884.253, DIVIDENDS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/680000
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(a) A stipulated premium company may declare or pay a dividend to its shareholders only from the profits made by the company, not including surplus from the sale of stock. (b) A stipulated premium company may not pay a dividend, other than a stock dividend, unless: (1) any deficiency reserve under Section 884.453 has been eliminated; and (2) the capital of the company is maintained in an amount of at least $100,000. (c) A stipulated premium company that complies with Subsection (b) may pay cash dividends in accordance with Sections 403.001 and 403.052.