Texas Insurance Code - Section 424.052. Additional General Investment Authority
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§ 424.052. ADDITIONAL GENERAL INVESTMENT AUTHORITY. An
insurer may make investments that are not otherwise authorized by
this chapter or otherwise authorized by this code for the insurer
if:
(1) the investment is not specifically prohibited by
law and does not exceed the limits prescribed by this code;
(2) the amount of a single investment under this
section does not exceed five percent of the insurer's capital and
surplus in excess of the insurer's minimum capital and surplus; and
(3) the aggregate amount of all investments made by
the insurer under this section does not exceed five percent of the
insurer's assets.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 423.105 423.106 423.107 423.108 424.001 424.002 424.051 424.052 424.053 424.054 424.055 424.056 424.057 424.058 424.059
Last modified: August 10, 2007
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