Section 884.253 - Dividends(a) A stipulated premium company may declare or pay a dividend to its shareholders only from the profits made by the company, not including surplus from the sale of stock.(b) A stipulated premium company may not pay a dividend, other than a stock dividend, unless: (1) any deficiency reserve under Section 884.453 has been eliminated; and(2) the capital of the company is maintained in an amount of at least $100,000.(c) A stipulated premium company that complies with Subsection (b) may pay cash dividends in accordance with Sections 403.001 and 403.052.Amended By Acts 2007, 80th Leg., R.S., Ch. 730, Sec. 2E.080, eff. 4/1/2009.Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. 6/1/2003.