Texas Statutes and Rules Common to Life and Health Insurance
Under Texas law, who owns a stock insurance company, and who receives its distributed profits?
Answer and explanation
Answer: A. A stock insurer is owned by its shareholders, who elect the board and receive corporate dividends. Its policies are ordinarily nonparticipating, so policyholders receive no policy dividends.Source: Texas Insurance Code — Tex. Ins. Code ch. 841, domestic stock life insurance companies
More texas statutes and rules common to life and health insurance questions
- Under Texas law, what element distinguishes unlawful boycott or coercion from ordinary hard bargaining between an insurer and an agency?
- Under Texas law, what must ordinarily occur before the Commissioner enters a final order revoking a producer's licence?
- Under Texas law, who owns a mutual insurance company?
- Under Texas law, whose money is the premium an agent collects from an applicant before the insurer receives it?
- Under Texas Penal Code § 35.02, what criminal classification applies to committing insurance fraud involving a claim of $300,000 or more?
- Under TIC § 4001.202, how often must an insurer pay appointment renewal fees for appointed agents in Texas?
590 Texas questions like this one.
Every answer explained, the ones you miss come back on a spaced schedule, and a plan built from your exam date.