Sec. 2054.254. CASH DIVIDENDS; CREDIT ON RENEWAL PREMIUM. (a) The company may pay a cash dividend or allow a credit on the renewal premium for a policyholder insured with the company, other than a policyholder insured under Subchapter H.
(b) Payment of a cash dividend or allowance of a credit:
(1) must be made in accordance with criteria approved by the board, which may consider the policyholder's safety record and performance; and
(2) may be made only with the department's prior approval.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.
Structure Texas Statutes
Title 10 - Property and Casualty Insurance
Subtitle E - Workers' Compensation Insurance
Chapter 2054 - Texas Mutual Insurance Company
Subchapter F. General Powers and Duties Relating to Insurance
Section 2054.251. Ratemaking Authority
Section 2054.252. Amounts of Rates
Section 2054.253. Multitiered Premium Systems
Section 2054.254. Cash Dividends; Credit on Renewal Premium
Section 2054.255. Appointment of Agent Not Required