Texas Statutes (Last Updated: January 4, 2014) |
INSURANCE CODE |
Title 4. REGULATION OF SOLVENCY |
Subtitle A. GENERAL PROVISIONS |
Chapter 403. DIVIDENDS |
Subchapter B. ESTIMATE OF PROFITS |
Sec. 403.051. ESTIMATE OF PROFITS
Latest version.
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An insurer organized under the laws of this state may not include the following in the estimate of the insurer's profits for the purpose of paying dividends under Section 403.001:
(1) the reserve on all unexpired risks computed in the manner provided by this code;
(2) the amount of all unpaid losses, whether adjusted or unadjusted; and
(3) all other debts due and payable, or to become due and payable, by the insurer.
Added by Acts 2005, 79th Leg., Ch. 727 , Sec. 1, eff. April 1, 2007.