Insurance Code § 883.162
People connected to a mutual insurance company may lend it needed money, the company may repay loans and agreed interest only from surplus, the loans are not treated as liabilities, the company may not pay loan-related commissions or promotion expenses, and it must report each loan in its annual statement.
- Jurisdiction
- United States — Texas
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- Code
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- Language
- en
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annual reporting company loans insurance company finance
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Insurance Code § 883.162
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