Texas Insurance Code

§ 424.105 — SHORT-TERM INVESTMENT POOL: CERTAIN SHORT-TERM OBLIGATIONS

IN § 424.105Title 4. REGULATION OF SOLVENCY · Part B. RESERVES AND INVESTMENTS · Ch. 424. INVESTMENTS FOR CERTAIN INSURERS · Art. C. INVESTMENT POOLS

Statute text

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(a)Obligations contained in a short-term investment pool must meet the requirements of this section.

(b)The obligations must:

(1)have a rating by the securities valuation office of one or two, or an equivalent rating issued by a nationally recognized statistical rating organization recognized by the securities valuation office; or

(2)be issued by an issuer with outstanding obligations that have a rating described by Subdivision (1).

(c)The obligations must have:

(1)a remaining maturity of 397 days or less or a put that:

…

Legislative history

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