Texas Insurance Code

§ 964.061 — INVESTMENTS

IN § 964.061Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part H. OTHER ENTITIES · Ch. 964. CAPTIVE INSURANCE COMPANIES · Art. B. CAPTIVE INSURANCE COMPANIES

Statute text

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(a)A captive insurance company is not subject to a restriction on allowable investments, except as provided by this section.

(b)A captive insurance company may make loans to its affiliates with the prior approval of the commissioner. Each loan must be evidenced by a note approved by the commissioner. A captive insurance company may not make a loan of the minimum capital and surplus funds, or the equivalent, required by this chapter.

(c)The commissioner may prohibit or limit an investment that threatens the solvency or liquidity of a captive insurance company. Added by Acts 2013, 83rd Leg., R.S., Ch. 569 (S.B. 734), Sec. 2, eff. June 14, 2013. Amended by:

Legislative history

Acts 2017, 85th Leg., R.S., Ch. 1050 (H.B. 1944), Sec. 1.11, eff. June 15, 2017.