Tex. Ins. Code § 2054.254

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 2054.254 - Cash Dividends; Credit on Renewal Premium

(a) The company may pay a cash dividend or allow a credit on the renewal premium for a policyholder insured with the company, other than a policyholder insured under Subchapter H.

(b) Payment of a cash dividend or allowance of a credit:

(1) must be made in accordance with criteria approved by the board, which may consider the policyholder's safety record and performance; and

(2) may be made only with the department's prior approval.

Tex. Ins. Code § 2054.254

Added by Acts 2005, 79th Leg., Ch. 727, Sec. 2, eff. 4/1/2007.