Tex. Ins. Code § 424.059

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 424.059 - Authorized Investments: Government Obligations

An insurer may invest the insurer's funds in excess of minimum capital and surplus in a bond or other evidence of indebtedness of any state or of Canada or a province of Canada that:

(1) is issued by the authority of law; and

(2) at the time of purchase:

(A) bears interest; and

(B) is not in default as to principal or interest.

Tex. Ins. Code § 424.059

Added by Acts 2005, 79th Leg., Ch. 727, Sec. 1, eff. 4/1/2007.