Texas § IN.882.355 - LIMITATIONS ON DIVISIBLE SURPLUS
Full text of Texas The Texas Constitution § IN.882.355 — LIMITATIONS ON DIVISIBLE SURPLUS, with citation guidance and answers to common questions.
§ IN.882.355. LIMITATIONS ON DIVISIBLE SURPLUS
LIMITATIONS ON DIVISIBLE SURPLUS. A mutual life insurance company's divisible surplus available for payment of dividends to the company's policyholders may not include: (1) any part of the company's unencumbered surplus that has been: (A) allocated from the company's earned surplus; (B) transferred from the company's contingency reserve; or (C) otherwise acquired by the company; (2) if the company was organized after September 5, 1955, any part of the company's unencumbered surplus required to comply with Section 882.301 ; or (3) if the company's unencumbered surplus is less than $25,000, the part of the company's earned surplus for the preceding calendar year in excess of 75 percent of the earned surplus. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Frequently Asked Questions About Texas § IN.882.355
What does The Texas Constitution § IN.882.355 cover?
Section IN.882.355 ("LIMITATIONS ON DIVISIBLE SURPLUS") is part of the The Texas Constitution, the codified statutory law of Texas. 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 Texas § IN.882.355?
A common citation format is "The Texas Constitution § IN.882.355" (Texas). 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 Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § IN.882.355 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas 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 Texas.