Texas Insurance Code - Section 425.117. Authorized Investments: Collateral Loans
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§ 425.117. AUTHORIZED INVESTMENTS: COLLATERAL
LOANS. (a) Subject to this section, an insurance company may
invest in a collateral loan secured by:
(1) a first lien on an asset; or
(2) a valid and perfected first security interest in
an asset.
(b) The amount of a loan invested in under this section may
not exceed 80 percent of the value of the collateral asset at any
time during the duration of the loan.
(c) The asset used as collateral for a loan under this
section must be an asset, other than real property described by
section 425.119, in which the insurance company is authorized by
this subchapter to directly invest.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 425.110 425.111 425.112 425.113 425.114 425.115 425.116 425.117 425.118 425.119 425.120 425.121 425.122 425.123 425.124
Last modified: August 11, 2007
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