Texas Statutes (Last Updated: January 4, 2014) |
INSURANCE CODE |
Title 4. REGULATION OF SOLVENCY |
Subtitle B. RESERVES AND INVESTMENTS |
Chapter 424. INVESTMENTS FOR CERTAIN INSURERS |
Subchapter B. INVESTMENT OF FUNDS IN EXCESS OF MINIMUM CAPITAL AND SURPLUS |
Sec. 424.059. AUTHORIZED INVESTMENTS: GOVERNMENT OBLIGATIONS
Latest version.
-
An insurer may invest the insurer's funds in excess of minimum capital and surplus in a bond or other evidence of indebtedness of any state or of Canada or a province of Canada that:
(1) is issued by the authority of law; and
(2) at the time of purchase:
(A) bears interest; and
(B) is not in default as to principal or interest.
Added by Acts 2005, 79th Leg., Ch. 727 , Sec. 1, eff. April 1, 2007.