The board of directors of any mutual insurance company may from time to time fix and determine the amounts to be paid during the year as dividends or a refund of savings and gains to policyholders; provided, that no dividend or refund shall discriminate between members of the same class and no dividend or refund shall be declared or distributed except out of the net divisible surplus of the company, and no company shall pay or credit a policyholder any sum in anticipation of a future dividend or refund.
1967 c 395 art 7 s 14
Structure Minnesota Statutes
Chapters 59A - 79A — Insurance
Chapter 66A — Mutual Companies
Section 66A.01 — Scope Of Chapter.
Section 66A.02 — Applicability Of Business Corporation Statutes.
Section 66A.03 — Incorporation.
Section 66A.06 — Renewal Of Corporate Existence.
Section 66A.07 — Membership; Meetings; Notices; Voting.
Section 66A.08 — Requirements.
Section 66A.09 — Kinds Of Business Authorized.
Section 66A.10 — Additional Requirements.
Section 66A.11 — Revocation Of License.
Section 66A.12 — Mutual Fire Companies; Premiums; Contingent Liability.
Section 66A.13 — Mutual Fire Companies; Requirements When Note Given.
Section 66A.16 — Guaranty Funds.
Section 66A.17 — Mutual Fire Insurance Companies; Provisions As To Policies Lapsing.
Section 66A.18 — Voting And Notice.
Section 66A.19 — Contingent Liability.
Section 66A.215 — Special Provisions Relating To Hail, Tornado, And Cyclone Companies.
Section 66A.221 — Organization.
Section 66A.23 — Assessments; Notice; Payments; Collection.
Section 66A.24 — Officers; Duties; Compensation; Bonds.
Section 66A.25 — Proxies; Restrictions.
Section 66A.26 — Property Insurable.
Section 66A.27 — Limitation On Expenses.
Section 66A.28 — Reports; Delinquency; Powers Of Commissioner.
Section 66A.29 — Arbitration Required.
Section 66A.30 — Transfer Of Risks And Reinsurance.
Section 66A.31 — Merger And Consolidation.
Section 66A.32 — Prerequisites Of Life Companies.
Section 66A.33 — Temporary Capital Stock Of Mutual Life Companies.
Section 66A.35 — Guaranty Funds.
Section 66A.36 — Stock And Mutual Life Insurance Companies.
Section 66A.38 — Voting Rights.
Section 66A.39 — Conversion Of Existing Companies; Amendment Of Certificates Of Incorporation.
Section 66A.40 — Mutual Insurance Holding Companies.
Section 66A.41 — Mutual Company Conversion To Stock Company.
Section 66A.42 — Domestic Insurance Corporations May Become Mutual Corporations.