TITLE 41

INSURANCE

CHAPTER 28

ORGANIZATION AND CORPORATE PROCEDURES OF STOCK AND MUTUAL INSURERS

41-2843.  Dividends to stockholders. A domestic stock insurer shall not pay any dividend to stockholders except out of earned surplus. Prior to payment thereof, the director, in his discretion, may approve the payment of a dividend from other than earned surplus. For purposes of this section, "earned surplus" shall include surplus arising from unrealized capital gains or revaluation of assets.

History:

[41-2843, added 1961, ch. 330, sec. 611, p. 645; am. 1993, ch. 194, sec. 14, p. 506.]