Tex. Insurance Code § 964.063
This is the official text of Tex. Insurance Code § 964.063, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 964.063. DIVIDENDS AND DISTRIBUTIONS.
Official statutory text
(a) A captive insurance company shall notify the commissioner in writing when issuing policyholder dividends or distributions to policyholders.
(b) A captive insurance company, with the commissioner's approval, may issue dividends or distributions to the holders of an equity interest in the captive insurance company. The commissioner shall adopt rules to implement this subsection.
(b) A captive insurance company, with the commissioner's approval, may issue dividends or distributions to the holders of an equity interest in the captive insurance company. The commissioner shall adopt rules to implement this subsection.
Status: in_force · Read it on the official government site
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