Gavvy: Ins. Code, Sec. 825.103. Distribution of Dividends.

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Sec. 825.103. Distribution of Dividends.

Sec. 825.103. DISTRIBUTION OF DIVIDENDS. After conversion, the converting company shall annually distribute among its policyholders, under terms approved by the commissioner, dividends or earnings accruing to the converting company as the result of the acquisition of shares of the converting company's stock under this chapter.

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.

Gavvy last updated this database on: Sep 6, 2024