Texas Insurance Code

§ 424.056 — WRITTEN INVESTMENT PLAN

IN § 424.056Title 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)Each insurer's board of directors, or, if the insurer does not have a board of directors, the corresponding authority designated by the insurer's charter, bylaws, or plan of operation, shall adopt a written investment plan consistent with the requirements of:

(1)this chapter;

(2)Sections 822.204, 822.209, 861.258, and 862.002; and

(3)other statutes governing investments by the insurer.

(b)The investment plan must:

(1)specify the diversification of the insurer's investments designed to reduce the risk of large losses, by:

…

Legislative history

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