Texas Insurance Code - Section 425.122. Authorized Investments: Premium Loans
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§ 425.122. AUTHORIZED INVESTMENTS: PREMIUM LOANS. (a)
Subject to Subsection (b), an insurance company may make loans to
finance the payment of premiums for the company's own insurance
policies or annuity contracts.
(b) The amount of a loan under this section may not exceed
the sum of:
(1) the available cash value of the insurance policy
or annuity contract for which the premium loan is made; and
(2) the amount of any escrowed commissions payable
relating to the insurance policy or annuity contract.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 425.115 425.116 425.117 425.118 425.119 425.120 425.121 425.122 425.123 425.124 425.125 425.126 425.127 425.128 425.129
Last modified: August 11, 2007
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