Texas Insurance Code

§ 424.204 — TRADING REQUIREMENTS FOR DERIVATIVE INSTRUMENTS

IN § 424.204Title 4. REGULATION OF SOLVENCY · Part B. RESERVES AND INVESTMENTS · Ch. 424. INVESTMENTS FOR CERTAIN INSURERS · Art. E. RISK CONTROL TRANSACTIONS

Statute text

View on source

Each derivative instrument must be:

(1)traded on a securities exchange;

(2)entered into with, or guaranteed by, a business entity;

(3)issued or written by, or entered into with, the issuer of the underlying interest on which the derivative instrument is based; or

(4)in the case of futures, traded through a broker who is:

(A)registered as a futures commission merchant under the Commodity Exchange Act (7 U.S.C. Section 1 et seq.), as amended; or

…

Legislative history

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