Tex. Ins. Code § 424.070 · Subchapter B. INVESTMENT OF FUNDS IN EXCESS OF MINIMUM CAPITAL AND SURPLUS
AUTHORIZED INVESTMENTS: OBLIGATIONS OF LOCAL GOVERNMENTAL ENTITIES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Subject to this section, an insurer may invest the insurer's funds in excess of minimum capital and surplus in a bond or other interest-bearing evidence of indebtedness of a:
(1) county or subdivision of a county;
(2) municipality;
(3) road district;
(4) turnpike district or authority;
(5) water district;
(6) school district;
(7) sanitary or navigation district; or
(8) municipally owned revenue water system, sewer system, or electric utility company with respect to which the municipality has appropriated, pledged, or otherwise provided for special revenues to meet the principal and interest payments of the bond or other evidence of indebtedness.
(b) A bond or other evidence of indebtedness of a navigation district is an authorized investment under this section only if:
(1) the navigation district is located wholly or partly in a county that has a population of at least 100,000; and
(2) the interest due on the bond or other evidence of indebtedness has never been in default.
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.424.htm
- Text hash
- sha256 c029857cfda95dbca2feb503bf8369e13cc05efc17ee217f698a7a4547fa6405
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.