Texas Insurance Code - Section 424.156. Percentage Limitations
Legal Research Home >
Texas Lawyer > Insurance Code > Texas Insurance Code - Section 424.156. Percentage Limitations
§ 424.156. PERCENTAGE LIMITATIONS. (a) An insurer may
not enter into a transaction under this subchapter if, as a result
of and after making the transaction, the aggregate amount of
securities loaned or sold to or purchased from:
(1) a single business entity counterparty under this
subchapter would exceed five percent of the insurer's assets; or
(2) all business entities under this subchapter would
exceed 40 percent of the insurer's assets.
(b) In computing the amount sold to or purchased from a
business entity counterparty under a repurchase or reverse
repurchase transaction, effect may be given to netting provisions
under a master written agreement.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 424.114 424.115 424.151 424.152 424.153 424.154 424.155 424.156 424.157 424.201 424.202 424.203 424.204 424.205 424.206
Last modified: August 10, 2007
|
