Sec. 2052.004. POLICYHOLDER DIVIDENDS

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(a) Subject to Subsections (b) and (c), this subtitle may not be construed to prohibit an insurance company, including the Texas Mutual Insurance Company, from issuing participating policies.
(b) A policyholder dividend under a workers' compensation insurance policy:
(1) does not take effect until approved by the department; and
(2) may not be approved by the department until the insurance company provides adequate reserves.
(c) For purposes of Subsection (b), reserves must be computed on the same basis for all classes of insurance companies operating under this subtitle and Article 5.66.

Added by Acts 2005, 79th Leg., Ch. 727 , Sec. 2, eff. April 1, 2007. Amended by: Acts 2007, 80th Leg., R.S., Ch. 730 , Sec. 2H.005, eff. April 1, 2009.

                    
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