Section 425.204 - Approval of Investments and Loans Required(a) An insurer may not make an investment unless the investment has been authorized by the insurer's board of directors or by a committee responsible for supervising investments.(b) An insurer may not make a loan other than a policy loan unless the loan has been authorized by the insurer's board of directors or by a committee responsible for supervising loans.Added by Acts 2005, 79th Leg., Ch. 727, Sec. 1, eff. 4/1/2007.