Texas § IN.884.253 - DIVIDENDS

Full text of Texas The Texas Constitution § IN.884.253 — DIVIDENDS, with citation guidance and answers to common questions.

§ IN.884.253. DIVIDENDS

DIVIDENDS. (a) A stipulated premium company may declare or pay a dividend to its shareholders only from the profits made by the company, not including surplus from the sale of stock. (b) A stipulated premium company may not pay a dividend, other than a stock dividend, unless: (1) any deficiency reserve under Section 884.453 has been eliminated; and (2) the capital of the company is maintained in an amount of at least $100,000. (c) A stipulated premium company that complies with Subsection (b) may pay cash dividends in accordance with Sections 403.001 and 403.052 . 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.080, eff. April 1, 2009.

Related Texas Legal Topics

Frequently Asked Questions About Texas § IN.884.253

What does The Texas Constitution § IN.884.253 cover?

Section IN.884.253 ("DIVIDENDS") 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.884.253?

A common citation format is "The Texas Constitution § IN.884.253" (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.884.253 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.