Court Opinions

State Laws

US Code

US Constitution

Texas Insurance Code - Section 424.059. Authorized Investments: Government Obligations

Legal Research Home > Texas Lawyer > Insurance Code > Texas Insurance Code - Section 424.059. Authorized Investments: Government Obligations

§ 424.059. AUTHORIZED INVESTMENTS:  GOVERNMENT 
OBLIGATIONS.  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, § 1, eff. April 1, 2007.           

Last modified: August 11, 2007