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2023 Texas Statutes
Insurance Code
Title 4 - Regulation of Solvency
Subtitle B - Reserves and Investments
Chapter 424 - Investments for Certain Insurers
Subchapter B. Investment of Funds in Excess
Section 424.059. Authorized Investments: Government Obligations
Universal Citation:
TX Ins Code § 424.059 (2023)
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Sec. 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.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.
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