Sec. 861.154. DIVIDENDS. Except as authorized by Sections 403.001 and 403.051, the directors of a general casualty company may not issue dividends.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 2E.061, eff. April 1, 2009.
Structure Texas Statutes
Title 6 - Organization of Insurers and Related Entities
Subtitle D - Casualty Companies
Chapter 861 - General Casualty Companies
Subchapter D. Powers and Duties of General Casualty Company
Section 861.151. Authority of Board of Directors
Section 861.152. General Powers of Company
Section 861.153. Authorized Shares
Section 861.155. Interference With Conduct of Business Prohibited; Exceptions