https://www.taxtmi.com/acts?id=39400 The substituted section 28 establishes a surplus distribution regime distinguishing years tied to maintenance of statutory funds and other years, and separating participating and non participating policyholder treatment. The Board is empowered to set allocation percentages, to reserve a portion of residual surplus for members and to designate uses including dividends and bonus shares. Surplus for participating policyholders must be transferred to a participating policyholders fund and largely allocated to those policyholders; surplus for non participating policyholders is to be allocated to members. The Board must publish a surplus distribution policy on the Corporation's website at prescribed intervals. en-us Mon, 01 Feb 2021 19:43:33 +0530 Mon, 01 Feb 2021 19:43:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=39400 The substituted section 28 establishes a surplus distribution regime distinguishing years tied to maintenance of statutory funds and other years, and separating participating and non participating policyholder treatment. The Board is empowered to set allocation percentages, to reserve a portion of residual surplus for members and to designate uses including dividends and bonus shares. Surplus for participating policyholders must be transferred to a participating policyholders fund and largely allocated to those policyholders; surplus for non participating policyholders is to be allocated to members. The Board must publish a surplus distribution policy on the Corporation's website at prescribed intervals. Act-Rules Bills Mon, 01 Feb 2021 19:43:33 +0530 https://www.taxtmi.com/acts?id=39400