Texas Insurance Code
§ 425.114 — AUTHORIZED INVESTMENTS: INSURANCE COMPANY INVESTMENT POOLS
IN § 425.114Title 4. REGULATION OF SOLVENCY · Part B. RESERVES AND INVESTMENTS · Ch. 425. RESERVES AND INVESTMENTS FOR LIFE INSURANCE · Art. C. AUTHORIZED INVESTMENTS AND TRANSACTIONS FOR CAPITAL STOCK LIFE, HEALTH, AND ACCIDENT INSURERS
Statute text
View on source(a)In this section, "affiliate" means, with respect to a person, another person that, directly or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with the person.
(b)Subject to Subsections (c)-(g), an insurance company may acquire investments in an investment pool that invests only in:
(1)obligations that 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 that are issued by an issuer with outstanding obligations that have a securities valuation office one or two rating or an equivalent rating described by this subdivision, and that:
(A)have a remaining maturity of 397 days or less or a put that:
(i)entitles the holder to receive the principal amount of the obligation; and
(ii)may be exercised through maturity at specified intervals not exceeding 397 days; or
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Legislative history
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.