Texas Insurance Code

§ 424.052 — ADDITIONAL GENERAL INVESTMENT AUTHORITY

IN § 424.052Title 4. REGULATION OF SOLVENCY · Part B. RESERVES AND INVESTMENTS · Ch. 424. INVESTMENTS FOR CERTAIN INSURERS · Art. B. INVESTMENT OF FUNDS IN EXCESS

Statute text

View on source

An insurer may make investments that are not otherwise authorized by this chapter or otherwise authorized by this code for the insurer if:

(1)the investment is not specifically prohibited by law and does not exceed the limits prescribed by this code;

(2)the amount of a single investment under this section does not exceed five percent of the insurer's capital and surplus in excess of the insurer's minimum capital and surplus; and

(3)the aggregate amount of all investments made by the insurer under this section does not exceed five percent of the insurer's assets.

Legislative history

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.