Tex. Ins. Code § 425.208

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

Section 425.208 - Authorized Investments for All Funds: Bank and Bank Holding Company Stocks

(a) Subject to this section, an insurer may invest any of the insurer's funds and accumulations in:

(1) the stock of a state or national bank that is a member of the Federal Deposit Insurance Corporation; and

(2) the stock of a bank holding company as defined by the Bank Holding Company Act of 1956 (12 U.S.C. Section 1841 et seq.), as amended by the Bank Holding Company Act Amendments of 1970 (12 U.S.C. Section 1841 et seq. and Section 1971 et seq.).

(b) An insurer's investment in the stock of a bank or bank holding company may not exceed:

(1) 20 percent of the total outstanding shares of the stock of the bank or bank holding company; or

(2) 10 percent of the insurer's admitted assets.

Tex. Ins. Code § 425.208

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