1. Insurance Companies that engage in the insurance of Persons and fund accumulation operations shall not deduct, whether directly or indirectly, any part of their funds corresponding to their obligations arising from Insurance Policies to distribute it as dividends to shareholders or Insured, or to pay any amount beyond their obligations under the Insurance Policies it issued. The distribution of dividends shall be limited to the amount of funds in excess, as determined by the Actuary in their report, after conducting the examination referred to in Article (98) of this decree-law, as approved by the Central Bank. 2. For the purpose of applying the provisions of this article, Insurance Company’s funds inside and outside the State may be considered as an integral unit, without prejudice to the provisions of Article (86) of this decree-law.
Interpretation and application must be checked against the official text and current version.