(a) A domestic stock insurer may not pay a cash dividend to stockholders except out of that part of its available surplus funds that is derived from realized net profits on its business.
(b) A stock dividend may be paid out of any available surplus funds in excess of the aggregate amount of surplus loaned to the insurer under AS 21.69.520 .
(c) A dividend otherwise proper may be payable out of the insurer's earned surplus even though its total surplus is then less than the aggregate of its past contributed surplus resulting from issuance of its capital stock at a price in excess of the par value.
Section: Previous 21.69.420 21.69.430 21.69.440 21.69.450 21.69.460 21.69.470 21.69.480 21.69.490 21.69.500 21.69.510 21.69.520 21.69.530 21.69.540 21.69.550 21.69.560 NextLast modified: November 15, 2016