Texas Insurance Code - Section 424.069. Authorized Investments: Certain Loans
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§ 424.069. AUTHORIZED INVESTMENTS: CERTAIN LOANS. An
insurer may invest the insurer's funds in excess of minimum capital
and surplus in a loan on the pledge of any mortgage, stock, bond, or
other evidence of indebtedness acceptable as an investment under
Sections 424.051, 424.053-424. 071, and 424.074, if the current
value of the mortgage, stock, bond, or other evidence of
indebtedness is at least 25 percent more than the amount of the
loan.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 424.062 424.063 424.064 424.065 424.066 424.067 424.068 424.069 424.070 424.071 424.072 424.073 424.074 424.101 424.102
Last modified: August 10, 2007
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