Tex. Ins. Code § 1806.154

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 1806.154 - Profit Sharing Authorized

(a) Section 1806.153 does not prohibit an insurer from sharing profits with the insurer's policyholders if:

(1) a profit sharing agreement is placed on or in the face of the policy;

(2) the profit sharing is uniform and does not discriminate among individuals or among classes; and

(3) the profit is not distributed to an insured before the expiration of the insurance policy.

(b) An insurer or an insurer's officer, director, agent, or other representative that violates this section has engaged in unjust discrimination.

Tex. Ins. Code § 1806.154

Added by Acts 2005, 79th Leg., Ch. 727, Sec. 2, eff. 4/1/2007.