Tex. Ins. Code § 424.063

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

Section 424.063 - Authorized Investments: Mutual Funds

An insurer may invest the insurer's funds in excess of minimum capital and surplus in shares of a mutual fund engaged in business under the Investment Company Act of 1940 (15 U.S.C. Section 80a-1 et seq.), as amended, if:

(1) the mutual fund is solvent and has at least $1 million of net assets as of the date of the mutual fund's latest annual or more recent certified audited financial statement; and

(2) the amount of the insurer's investment in a single mutual fund does not exceed 15 percent of the insurer's capital and surplus.

Tex. Ins. Code § 424.063

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