Texas Insurance Code - Not Codified - Article 2.10-1. Additional Investment Authority
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Art. 2.10-1. ADDITIONAL INVESTMENT AUTHORITY.
Article repealed effective April 1, 2007
(1) In addition to the securities authorized as investments
in Article 2.10, a company may also invest its funds over and above
its minimum capital and minimum surplus, as provided in Article
2.02, in bonds, issued, assumed, or guaranteed by certain
international financial institutions in which the United States is
a member, to wit: the Inter-American Development Bank, the
International Bank for Reconstruction and Development (the World
Bank), the African Development Bank, the Asian Development Bank,
and the International Finance Corporation.
(2) Insurers may make additional investments which are not
otherwise permitted by Article 2.08, Article 2.10, or Article
2.10-1 of this code, or which are not otherwise authorized by this
code for such insurers, and which investments are not otherwise
specifically prohibited by law, or which investments exceed the
limits otherwise specified in this code, provided:
(a) The amount of any one such investment may not exceed
five percent of the insurer's capital and surplus in excess of the
insurer's statutory minimum capital and surplus; and
(b) The aggregate of the investments made under this
Subsection (2) may not exceed five per cent of the insurer's assets.
Added by Acts 1971, 62nd Leg., p. 1668, ch. 472, Sec. 1, eff. Aug.
30, 1971.
Amended by Acts 1983, 68th Leg., p. 5120, ch. 932, Sec. 2, eff. June
19, 1983. Sec. (1) amended by Acts 1985, 69th Leg., ch. 542, Sec. 3,
eff. Aug. 26, 1985; amended by Acts 1991, 72nd Leg., ch. 408, Sec.
6, eff. Aug. 26, 1991.
Article: 1.18 1.19 1.32 1.33 1.39 1.61 2.10 2.10-1 2.10-2 2.10-3A 2.10-4 2.10-5 3.10 3.11 3.16
Last modified: August 11, 2007
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