Section 912.054 - Authority to Borrow Money(a) The board of directors of a county mutual insurance company may borrow money in an amount determined to be necessary to pay the company's accrued or unaccrued losses.(b) The board may pledge as security for a loan the assets of the company, including the contingent liability of its policyholders.Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. 6/1/2003.