(1) With respect to workmen’s [worker’s] compensation insurance delivered or issued for delivery in this state, the insurer shall not pay dividends to the holders of participating insurance contracts out of profits or gains realized from nonparticipating contracts.
(2) An insurer issuing both participating and nonparticipating workmen’s [worker’s] compensation policies shall maintain a system of accounting which segregates the participating from the nonparticipating business and clearly shows the profits and losses upon each category of business.