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Texas Insurance Code - Section 424.069. Authorized Investments: Certain Loans

Legal Research Home > Texas Lawyer > Insurance Code > Texas Insurance Code - Section 424.069. Authorized Investments: Certain Loans

§ 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.           

Last modified: August 11, 2007