Texas Insurance Code

§ 424.072 — AUTHORIZED INVESTMENTS: BONDS ISSUED, ASSUMED, OR GUARANTEED IN INTERNATIONAL MARKET

IN § 424.072Title 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 bonds issued, assumed, or guaranteed by any of the following international financial institutions in which the United States is a member:

(1)the Inter-American Development Bank;

(2)the International Bank for Reconstruction and Development (the World Bank);

(3)the African Development Bank;

(4)the Asian Development Bank; or

(5)the International Finance Corporation.

Legislative history

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