Tex. Ins. Code § 424.103 · Subchapter C. INVESTMENT POOLS
INVESTMENT POOL REQUIREMENTS AND QUALIFICATIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) An investment pool must be a business entity.
(b) To be qualified, an investment pool must:
(1) have a written pooling agreement and a pool manager that comply with the requirements of this subchapter; and
(2) comply with Subsection (c).
(c) The investment pool may not:
(1) acquire securities issued, assumed, guaranteed, or insured by the investing insurer or an affiliate of the investing insurer;
(2) borrow or incur indebtedness for borrowed money, except for securities lending and reverse repurchase transactions that meet the requirements of this subchapter; or
(3) permit the aggregate value of securities loaned or sold to, purchased from, or invested in a single business entity at the time of the loan, sale, purchase, or investment to exceed 10 percent of the pool's total assets.
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 2141d7c06cfaf3fd1ae483035cb0e771af6aa1574105045c7b853a0cefb3ea22
- 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
Cited by 1 provision
Provisions in this library whose text cites Tex. Ins. Code § 424.103. Each shows the citation as that text prints it.
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