Tex. Ins. Code § 425.123 · Subchapter C. AUTHORIZED INVESTMENTS AND TRANSACTIONS FOR CAPITAL STOCK LIFE, HEALTH, AND ACCIDENT INSURERS
AUTHORIZED INVESTMENTS: MONEY MARKET FUNDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) An insurance company may invest in a money market fund as described by 17 C.F.R. Section 270.2a-7 under the Investment Company Act of 1940 (15 U.S.C. Section 80a-1 et seq.), that is:
(1) a government money market fund that:
(A) invests only in obligations issued, guaranteed, or insured by the United States government or collateralized repurchase agreements composed of these obligations; and
(B) qualifies for investment without a reserve under the Purposes and Procedures Manual of the securities valuation office or a successor publication; or
(2) a class one money market fund that qualifies for investment using the bond class one reserve factor described by the Purposes and Procedures Manual of the securities valuation office or a successor publication.
(b) For purposes of complying with Section 425.115, a money market fund that qualifies for listing in the categories prescribed by Subsection (a) must conform to the Purposes and Procedures Manual of the securities valuation office or a successor publication.
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.425.htm
- Text hash
- sha256 f60b050256bf2455b850efaa63c077bc92892cce33991fa5c6142d65d4189d6e
- 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
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Cited by 4 provisions
Provisions in this library whose text cites Tex. Ins. Code § 425.123. Each shows the citation as that text prints it.
Insurance Code
- Tex. Ins. Code § 425.114AUTHORIZED INVESTMENTS: INSURANCE COMPANY INVESTMENT POOLS.Printed as Section 425.123
- Tex. Ins. Code § 425.115AUTHORIZED INVESTMENTS: EQUITY INTERESTS.Printed as Section 425.123
- Tex. Ins. Code § 425.125RISK CONTROL TRANSACTIONS: DEFINITIONS.Printed as Section 425.123
- Tex. Ins. Code § 2551.151ADMISSIBLE INVESTMENTS.Printed as Section 425.123
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.