Texas Insurance Code

§ 424.109 — DESIGNATION OF POOL MANAGER; QUALIFICATIONS

IN § 424.109Title 4. REGULATION OF SOLVENCY · Part B. RESERVES AND INVESTMENTS · Ch. 424. INVESTMENTS FOR CERTAIN INSURERS · Art. C. INVESTMENT POOLS

(a)The pooling agreement for an investment pool must designate a pool manager.

(b)The pool manager must be organized under the laws of the United States or a state and must be:

(1)the investing insurer, an affiliated insurer, or a business entity affiliated with the insurer;

(2)a qualified bank;

(3)a business entity registered under the Investment Advisers Act of 1940 (15 U.S.C. Section 80b-1 et seq.), as amended;

(4)the attorney-in-fact of a reciprocal or interinsurance exchange; or

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Legislative history

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