Section 882.253 - Loans to Company(a) An officer or director of a mutual life insurance company, or a person authorized under Chapter 825, may loan to the company money to: (1) promote or conserve the company's business; or(2) enable the company to comply with a legal requirement.(b) The company may repay a loan and agreed interest, at an annual rate not to exceed 10 percent, from the surplus remaining after the company provides for the company's reserves and other liabilities.(c) A loan under this section or interest on a loan is not otherwise a liability or claim against the company or any of its assets.(d) A mutual life insurance company may not pay a commission or promotion expense in connection with a loan made to the company.(e) A mutual life insurance company shall report in its annual statement the amount of each loan.Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. 6/1/2003.