Texas Insurance Code

§ 424.067 — AUTHORIZED INVESTMENTS: TRANSPORTATION EQUIPMENT

IN § 424.067Title 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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An insurer may invest the insurer's funds in excess of minimum capital and surplus in:

(1)an adequately secured equipment trust obligation, certificate, or other instrument evidencing an interest in transportation equipment wholly or partly located in the United States; and

(2)a right to receive determined portions of rental, purchase, or other fixed obligatory payments for the use or purchase of the equipment.

Legislative history

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