Tex. Ins. Code § 887.064

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

Section 887.064 - Dividends

If the amount of an association's mortuary fund exceeds the amount of reserves required by Subchapter I, the association may pay dividends from the fund to its certificate holders. The amount of the dividends and the method of distribution of the dividends must be:

(1) equitable and nondiscriminatory; and

(2) approved by the department before payment.

Tex. Ins. Code § 887.064

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. 6/1/2003.