Texas § 882.355 LIMITATIONS ON DIVISIBLE SURPLUS.

Texas Statutes

§ 882.355 — LIMITATIONS ON DIVISIBLE SURPLUS.

Texas § 882.355

Code INInsurance Code

This text of Texas § 882.355 (LIMITATIONS ON DIVISIBLE SURPLUS.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Insurance Code Code Ann. § 882.355 (2026).

Text

Sec. 882.355. LIMITATIONS ON DIVISIBLE SURPLUS. A mutual life insurance company's divisible surplus available for payment of dividends to the company's policyholders may not include:

(1)any part of the company's unencumbered surplus that has been:

(A)allocated from the company's earned surplus;

(B)transferred from the company's contingency reserve; or

(C)otherwise acquired by the company;

(2)if the company was organized after September 5, 1955, any part of the company's unencumbered surplus required to comply with Section 882.301 ; or

(3)if the company's unencumbered surplus is less than $25,000, the part of the company's earned surplus for the preceding calendar year in excess of 75 percent of the earned surplus.

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Sec. 882.355. LIMITATIONS ON DIVISIBLE SURPLUS. A mutual life insurance company's divisible surplus available for payment of dividends to the company's policyholders may not include:
(1) any part of the company's unencumbered surplus that has been:
(A) allocated from the company's earned surplus;
(B) transferred from the company's contingency reserve; or
(C) otherwise acquired by the company;
(2) if the company was organized after September 5, 1955, any part of the company's unencumbered surplus required to comply with Section 882.301 ; or
(3) if the company's unencumbered surplus is less than $25,000, the part of the company's earned surplus for the preceding calendar year in excess of 75 percent of the earned surplus.