Texas Insurance Code - Not Codified - Article 5.07. Participating Policies
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Art. 5.07. PARTICIPATING POLICIES.
Article repealed effective April 1, 2007
Nothing in this subchapter shall be construed to prohibit the
operation hereunder of any stock company, mutual company,
reciprocal or interinsurance exchange or Lloyd's association or to
prohibit any stock company, mutual company, reciprocal or
interinsurance exchange or Lloyd's association issuing
participating policies; provided no distribution of profit or
dividends to insured shall take effect or be paid until the same
shall have been approved by the Board; and provided further that no
such distribution shall be approved until adequate reserves shall
have been provided, such reserves to be computed on the same basis
for all classes of insurers operating under this subchapter.
Acts 1951, 52nd Leg., ch. 491.
Article: 5.06 5.06-1 5.06-2 5.06-3 5.06-4 5.06-5 5.06-6 5.07 5.07-1 5.08 5.09 5.10 5.11 5.12-1 5.13
Last modified: August 11, 2007
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