Tex. Insurance Code § 881.052
This is the official text of Tex. Insurance Code § 881.052, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 881.052. APPLICABILITY OF TEXAS NON-PROFIT CORPORATION ACT.
Official statutory text
(a) Except to the extent of any conflict with this code, the Texas Non-Profit Corporation Act (Article 1396-1.01 et seq., Vernon's Texas Civil Statutes) applies to a statewide mutual assessment company. The commissioner has each power and duty of, and shall perform each act to be performed by, the secretary of state under that Act with respect to statewide mutual assessment companies.
(b) On advance approval of the commissioner, a statewide mutual assessment company may pay dividends to its members.
(b) On advance approval of the commissioner, a statewide mutual assessment company may pay dividends to its members.
Status: in_force · Read it on the official government site
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