Permissible Dividend Classes, the Insurance Code, Chapter 5, Subchapter B

The permissible classes for the payment of dividends for the lines of insurance regulated under the Insurance Code, Chapter 5, Subchapter B, are the same as the duly approved rating classifications for those lines of insurance. No insurer may declare or pay any dividend on any line of insurance regulated under the Insurance Code, Chapter 5, Subchapter B, unless the dividend is declared and paid on a class which is the same as one of the approved rating classifications for that line of insurance.

Source Note: The provisions of this §5.1101 adopted to be effective October 28, 1983, 8 TexReg 4187.