Tennessee § 56-21-129 - Dividends to policyholders.
Full text of Tennessee Tennessee Code Annotated § 56-21-129 — Dividends to policyholders., with citation guidance and answers to common questions.
§ 56-21-129. Dividends to policyholders.
Dividends in cash or otherwise may be paid to policyholders annually, or at such times as the directors may decide upon. The percent of dividend to be paid shall be fixed from time to time by the board of directors, and the board's action shall be final, both as to the percent of dividend and the time when it shall be paid to the policyholders. The percent of dividend shall be the same to all in each class of policyholders, but shall not be so large as to require the payment for any calendar year of more than fifty percent (50%) of the company's net cash surplus at the close of that year. Acts 1907, ch. 461, § 9; Shan., § 3369a25; Acts 1921, ch. 160, § 9; Code 1932, § 6276; T.C.A. (orig. ed.), § 56-2031. Cross-References. County mutual fire insurance companies, payment of dividends, § 56-22-109 .
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 56-21-129
What does Tennessee Code Annotated § 56-21-129 cover?
Section 56-21-129 ("Dividends to policyholders.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Tennessee § 56-21-129?
A common citation format is "Tennessee Code Annotated § 56-21-129" (Tennessee). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 56-21-129 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Tennessee.