Texas Insurance Code

§ 424.053 — LIMITATION AS TO SINGLE ISSUER OR BORROWER

IN § 424.053Title 4. REGULATION OF SOLVENCY · Part B. RESERVES AND INVESTMENTS · Ch. 424. INVESTMENTS FOR CERTAIN INSURERS · Art. B. INVESTMENT OF FUNDS IN EXCESS

Statute text

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(a)Notwithstanding Sections 424.051, 424.056-424.071, and 424.074, the aggregate amount of an insurer's investments in all or any type of securities, loans, obligations, or evidences of indebtedness of a single issuer or borrower, other than investments described by Subsection (c), may not exceed five percent of the insurer's total assets.

(b)For purposes of this section, a single issuer or borrower includes:

(1)the issuer's or borrower's majority-owned subsidiaries;

(2)the issuer's or borrower's parent; or

(3)the majority-owned subsidiaries of the issuer's or borrower's parent.

(c)This section does not apply to:

…

Legislative history

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