Section 424.060 - Authorized Investments: Stock of National or State Bank(a) An insurer may invest the insurer's funds in excess of minimum capital and surplus in the stock of:(2) a state bank of this state whose deposits are insured by the Federal Deposit Insurance Corporation.(b) Notwithstanding Subsection (a)(2): (1) not more than 35 percent of the total outstanding stock of a single state bank may be purchased by a single insurer; and(2) if an insurer has invested the insurer's funds in 35 percent of a state bank's stock under this section, no other insurer may invest funds in the bank's remaining stock.Added by Acts 2005, 79th Leg., Ch. 727, Sec. 1, eff. 4/1/2007.