Sec. 882.253. LOANS TO COMPANY. (a) An officer or director of a mutual life insurance company, or a person authorized under Chapter 825 , may loan to the company money to: (1) promote or conserve the company's business; or (2) enable the company to comply with a legal requirement. (b) The company may repay a loan and agreed interest, at an annual rate not to exceed 10 percent, from the surplus remaining after the company provides for the company's reserves and other liabilities. (c) A loan under this section or interest on a loan is not otherwise a liability or claim against the company or any of its assets. (d) A mutual life insurance company may not pay a commission or promotion expense in connection with a loan made to the company. (e) A mutual life insurance company shall report in its annual statement the amount of each loan.
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