Tex. Ins. Code § 823.255 · Subchapter F. INSURER'S LOANS TO OR INVESTMENT IN AFFILIATE
AGREEMENT OF AFFILIATE TO LIMIT CERTAIN INVESTMENTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A domestic insurer may invest any amount in the securities of one or more affiliates organized for any lawful purpose if each affiliate agrees to limit its investments in any particular asset so that the investments will not cause the amount of the total investment of the insurer to exceed the amount the insurer could have directly invested in that asset.
(b) To compute the amount of the total investment of an insurer in an asset for purposes of Subsection (a), the following amounts are included:
(1) any direct investment by the insurer in that asset; and
(2) the insurer's proportionate share of investment in that asset by any affiliate of the insurer.
(c) To compute the insurer's proportionate share of investment under Subsection (b)(2), the amount of the affiliate's investment in the asset is multiplied by the percentage of the insurer's ownership of that affiliate.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.823.htm
- Text hash
- sha256 56f09d3dddcf2995f6f630ac37fa2c4013ec9281c7300ac3389358c019556ddc
- 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.