reglab/housing_qa huggingface dataset:
TX Ins Code § 425.160 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle B - Reserves and Investments|Chapter 425 - Reserves and Investments for Life Insurance Companies and Related Entities|Subchapter C. Authorized Investments and Transactions for Capital Stock Life, Health, and Accident Insurers|Section 425.160. Investments of Ceding Insurers

Sec. 425.160.  INVESTMENTS OF CEDING INSURERS.  (a)  Subject to this section, if a domestic insurance company assumes and reinsures the business of and takes over the assets of another domestic insurance company or a foreign company, all assets or investments of the ceding company that were authorized as proper assets or investments for the funds of that company and taken over by the assuming company are considered valid assets or investments of the assuming company under the laws of this state.(b)  The commissioner must approve assets or investments described by Subsection (a) and the terms on which those assets or investments are taken over.  The commissioner may require the assuming insurance company to reasonably dispose of any of those assets or investments that do not otherwise meet the requirements of this subchapter within a period that will minimize any financial loss or other hardship caused by disposing of the asset or investment.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 425.161 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle B - Reserves and Investments|Chapter 425 - Reserves and Investments for Life Insurance Companies and Related Entities|Subchapter C. Authorized Investments and Transactions for Capital Stock Life, Health, and Accident Insurers|Section 425.161. Acting as Real Estate Broker or Salesperson Prohibited

Sec. 425.161.  ACTING AS REAL ESTATE BROKER OR SALESPERSON PROHIBITED.  A domestic insurance company or another insurance company specifically made subject to this subchapter may not engage in the business of a broker or salesperson as defined by Chapter 1101, Occupations Code, except that the company may hold, improve, maintain, manage, rent, lease, sell, exchange, or convey any of the real property interests owned as investments under Sections 425.109-425.132 and 425.151-425.153.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 425.162 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle B - Reserves and Investments|Chapter 425 - Reserves and Investments for Life Insurance Companies and Related Entities|Subchapter C. Authorized Investments and Transactions for Capital Stock Life, Health, and Accident Insurers|Section 425.162. Rules

Sec. 425.162.  RULES.  The commissioner may adopt rules, minimum standards, or limitations that are fair and reasonable as appropriate to supplement and implement this subchapter.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 425.201 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle B - Reserves and Investments|Chapter 425 - Reserves and Investments for Life Insurance Companies and Related Entities|Subchapter D. Authorized Investments and Transactions for Other Life, Health, and Accident Insurers|Section 425.201. Definition

Sec. 425.201.  DEFINITION.  In this subchapter, "contingency funds" means an insurer's contingency funds over and above the amount of the insurer's policy reserves.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 425.202 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle B - Reserves and Investments|Chapter 425 - Reserves and Investments for Life Insurance Companies and Related Entities|Subchapter D. Authorized Investments and Transactions for Other Life, Health, and Accident Insurers|Section 425.202. Applicability of Subchapter

Sec. 425.202.  APPLICABILITY OF SUBCHAPTER.  This subchapter applies only to an insurer organized under Chapter 881, 884, 885, 886, 887, or 2551, except as specifically provided by those chapters.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 425.203 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle B - Reserves and Investments|Chapter 425 - Reserves and Investments for Life Insurance Companies and Related Entities|Subchapter D. Authorized Investments and Transactions for Other Life, Health, and Accident Insurers|Section 425.203. Limitation on Funds and Other Assets

Sec. 425.203.  LIMITATION ON FUNDS AND OTHER ASSETS.  (a)  An insurer may not use the insurer's funds to make an investment or loan that is not authorized by this subchapter.(b)  An insurer may not secure, hold, or convey real property except as authorized by this subchapter.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 425.204 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle B - Reserves and Investments|Chapter 425 - Reserves and Investments for Life Insurance Companies and Related Entities|Subchapter D. Authorized Investments and Transactions for Other Life, Health, and Accident Insurers|Section 425.204. Approval of Investments and Loans Required

Sec. 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 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 425.2061 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle B - Reserves and Investments|Chapter 425 - Reserves and Investments for Life Insurance Companies and Related Entities|Subchapter D. Authorized Investments and Transactions for Other Life, Health, and Accident Insurers|Section 425.2061. Authorized Investments for All Funds: Bond Exchange-Traded Funds

Sec. 425.2061.  AUTHORIZED INVESTMENTS FOR ALL FUNDS: BOND EXCHANGE-TRADED FUNDS.  Subject to Section 425.157(b), an insurer may invest any of the insurer's funds and accumulations in a bond exchange-traded fund described by Section 425.1231(a).|Added by Acts 2019, 86th Leg., R.S., Ch. 1132 (H.B. 2694), Sec. 3, eff. September 1, 2019.|
TX Ins Code § 425.207 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle B - Reserves and Investments|Chapter 425 - Reserves and Investments for Life Insurance Companies and Related Entities|Subchapter D. Authorized Investments and Transactions for Other Life, Health, and Accident Insurers|Section 425.207. Authorized Investments for All Funds: Shares of Savings and Loan Associations

Sec. 425.207.  AUTHORIZED INVESTMENTS FOR ALL FUNDS: SHARES OF SAVINGS AND LOAN ASSOCIATIONS.  (a)  Subject to this section, an insurer may invest any of the insurer's funds and accumulations in a share, stock, share or savings account, or investment certificate of a savings and loan association engaged in business in this state that is qualified to participate in insurance issued by the Federal Deposit Insurance Corporation.(b)  An insurer's investment in a savings and loan association may not exceed 20 percent of the savings and loan association's total assets.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 425.208 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle B - Reserves and Investments|Chapter 425 - Reserves and Investments for Life Insurance Companies and Related Entities|Subchapter D. Authorized Investments and Transactions for Other Life, Health, and Accident Insurers|Section 425.208. Authorized Investments for All Funds: Bank and Bank Holding Company Stocks

Sec. 425.208.  AUTHORIZED INVESTMENTS FOR ALL FUNDS: BANK AND BANK HOLDING COMPANY STOCKS.  (a)  Subject to this section, an insurer may invest any of the insurer's funds and accumulations in:(1)  the stock of a state or national bank that is a member of the Federal Deposit Insurance Corporation; and(2)  the stock of a bank holding company as defined by the Bank Holding Company Act of 1956 (12 U.S.C. Section 1841 et seq.), as amended by the Bank Holding Company Act Amendments of 1970 (12 U.S.C. Section 1841 et seq. and Section 1971 et seq.).(b)  An insurer's investment in the stock of a bank or bank holding company may not exceed:(1)  20 percent of the total outstanding shares of the stock of the bank or bank holding company; or(2)  10 percent of the insurer's admitted assets.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 425.209 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle B - Reserves and Investments|Chapter 425 - Reserves and Investments for Life Insurance Companies and Related Entities|Subchapter D. Authorized Investments and Transactions for Other Life, Health, and Accident Insurers|Section 425.209. Authorized Investments for All Funds: Debentures of Public Utility Corporations

Sec. 425.209.  AUTHORIZED INVESTMENTS FOR ALL FUNDS: DEBENTURES OF PUBLIC UTILITY CORPORATIONS.  (a)  Subject to this section, an insurer may invest any of the insurer's funds and accumulations in:(1)  a debenture of a solvent public utility corporation that:(A)  has not defaulted in the payment of any debt during the five years preceding the investment; and(B)  has not failed in any one of the five years preceding the investment to have earned, after taxes, including income taxes, and after deducting proper charges for replacements, depreciation, and obsolescence, an amount applicable to interest on the corporation's outstanding indebtedness equal to at least two times the amount of interest due for that year, or, in the case of issuance of new debentures, the earnings applicable to interest are equal to at least two times the amount of annual interest on the corporation's obligations after giving effect to the new financing; or(2)  a debenture of a solvent public utility corporation that has not been in existence for the five years preceding the investment, if:(A)  the corporation has succeeded to the business and assets and has assumed the liabilities of another public utility corporation;(B)  neither the successor corporation or the corporation succeeded has defaulted in the payment of any debt during the five years preceding the investment; and(C)  neither the successor corporation or the corporation succeeded have failed in any one of the five years preceding the investment to have earned, after taxes, including income taxes, and after deducting proper charges for replacements, depreciation, and obsolescence, an amount applicable to interest on the corporation's outstanding indebtedness equal to at least two times the amount of interest due for that year, or in the case of issuance of new debentures, the earnings applicable to interest are equal to at least two times the amount of annual interest on the corporation's obligations after giving effect to the new financing.(b)  The amount of an insurer's investment in debentures under this section may not exceed five percent of the insurer's admitted assets.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 425.210 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle B - Reserves and Investments|Chapter 425 - Reserves and Investments for Life Insurance Companies and Related Entities|Subchapter D. Authorized Investments and Transactions for Other Life, Health, and Accident Insurers|Section 425.210. Authorized Investments for All Funds: Preferred Stock of Public Utility Corporations

Sec. 425.210.  AUTHORIZED INVESTMENTS FOR ALL FUNDS: PREFERRED STOCK OF PUBLIC UTILITY CORPORATIONS.  (a)  Subject to this section, an insurer may invest any of the insurer's funds and accumulations in:(1)  preferred stock of a solvent public utility corporation, the bonds and debentures of which are authorized investments for the insurer, and that:(A)  has not defaulted in the payment of any debt during the five years preceding the investment; and(B)  has not failed in any one of the five years preceding the investment to have earned an amount applicable to the dividends on the preferred stock equal to at least three times the amount of dividends due in that year, or, in the case of issuance of new preferred stock, the earnings applicable to dividends are equal to at least three times the amount of the annual dividend requirements after giving effect to the new financing; or(2)  a solvent public utility corporation, the bonds and debentures of which are authorized investments for the insurer, and that has not been in existence for the five years preceding the investment, if:(A)  the corporation has succeeded to the business and assets and has assumed the liabilities of another public utility corporation;(B)  neither the successor corporation or the corporation succeeded has defaulted in the payment of any debt during the five years preceding the investment; and(C)  neither the successor corporation or the corporation succeeded have failed in any one of the five years preceding the investment to have earned an amount applicable to the dividends on the preferred stock equal to at least three times the amount of dividends due in that year, or, in the case of issuance of new preferred stock, the earnings applicable to dividends are equal to at least three times the amount of the annual dividend requirements after giving effect to the new financing.(b)  Preferred stock purchased under this section must be of an issue entitled to first claim on the net earnings of the public utility corporation, after deducting the amount necessary to service any outstanding bonds and debentures.(c)  The amount of an insurer's investment in preferred stock under this section may not exceed 2-1/2 percent of the insurer's admitted assets.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 425.211 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle B - Reserves and Investments|Chapter 425 - Reserves and Investments for Life Insurance Companies and Related Entities|Subchapter D. Authorized Investments and Transactions for Other Life, Health, and Accident Insurers|Section 425.211. Authorized Investments for All Funds: Bonds Issued, Assumed, or Guaranteed in International Market

Sec. 425.211.  AUTHORIZED INVESTMENTS FOR ALL FUNDS:  BONDS ISSUED, ASSUMED, OR GUARANTEED IN INTERNATIONAL MARKET.  An insurer may invest any of the insurer's funds and accumulations in bonds issued, assumed, or guaranteed by:(1)  the Inter-American Development Bank;(2)  the International Bank for Reconstruction and Development (the World Bank);(3)  the African Development Bank;(4)  the Asian Development Bank;(5)  the International Finance Corporation; and(6)  the State of Israel.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 425.212 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle B - Reserves and Investments|Chapter 425 - Reserves and Investments for Life Insurance Companies and Related Entities|Subchapter D. Authorized Investments and Transactions for Other Life, Health, and Accident Insurers|Section 425.212. Authorized Investments for All Funds: Securities or Investments Authorized or Described by Specific Statutory Provision

Sec. 425.212.  AUTHORIZED INVESTMENTS FOR ALL FUNDS: SECURITIES OR INVESTMENTS AUTHORIZED OR DESCRIBED BY SPECIFIC STATUTORY PROVISION.  An insurer may invest any of the insurer's funds and accumulations in a security or investment authorized or described by:(1)  Section 65.013, Finance Code;(2)  Sections 435.041-435.047, Government Code;(3)  Subchapter B, Chapter 1505, Government Code;(4)  Chapter 284, Transportation Code;(5)  Section 51.039 or 60.104, Water Code;(6)  Chapter 160, General Laws, Acts of the 43rd Legislature, Regular Session, 1933 (Article 842a, Vernon's Texas Civil Statutes);(7)  Chapter 230, Acts of the 49th Legislature, Regular Session, 1945 (Article 842a-1, Vernon's Texas Civil Statutes);(8)  Chapter 110, Acts of the 51st Legislature, Regular Session, 1949 (Article 8280-133, Vernon's Texas Civil Statutes);(9)  Chapter 340, Acts of the 51st Legislature, Regular Session, 1949 (Article 8280-137, Vernon's Texas Civil Statutes);(10)  Chapter 398, Acts of the 51st Legislature, Regular Session, 1949 (Article 8280-138, Vernon's Texas Civil Statutes); or(11)  Chapter 465, Acts of the 51st Legislature, Regular Session, 1949 (Article 8280-139, Vernon's Texas Civil Statutes). |Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 425.213 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle B - Reserves and Investments|Chapter 425 - Reserves and Investments for Life Insurance Companies and Related Entities|Subchapter D. Authorized Investments and Transactions for Other Life, Health, and Accident Insurers|Section 425.213. Authorized Investments for All Funds: Other Securities Specifically Authorized by Law

Sec. 425.213.  AUTHORIZED INVESTMENTS FOR ALL FUNDS: OTHER SECURITIES SPECIFICALLY AUTHORIZED BY LAW.  An insurer may invest any of the insurer's funds and accumulations in:(1)  an adequately secured equipment trust obligation or certificate or another adequately secured instrument evidencing:(A)  an interest in transportation equipment that is located wholly or partly within the United States; and(B)  a right to receive determined portions of rental, purchase, or other fixed obligatory payments for the use or purchase of the transportation equipment; and(2)  any other security as specifically authorized by law. |Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 425.215 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle B - Reserves and Investments|Chapter 425 - Reserves and Investments for Life Insurance Companies and Related Entities|Subchapter D. Authorized Investments and Transactions for Other Life, Health, and Accident Insurers|Section 425.215. Authorized Investments for All Funds: Loans Secured by Certain Collateral Secured by Real Property

Sec. 425.215.  AUTHORIZED INVESTMENTS FOR ALL FUNDS: LOANS SECURED BY CERTAIN COLLATERAL SECURED BY REAL PROPERTY.  An insurer may loan any of the insurer's funds and accumulations and take as collateral an obligation secured by a first lien on real property or a leasehold estate that is eligible to secure a loan under Section 425.214.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 425.216 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle B - Reserves and Investments|Chapter 425 - Reserves and Investments for Life Insurance Companies and Related Entities|Subchapter D. Authorized Investments and Transactions for Other Life, Health, and Accident Insurers|Section 425.216. Authorized Investments for All Funds: Policy Loans

Sec. 425.216.  AUTHORIZED INVESTMENTS FOR ALL FUNDS: POLICY LOANS.  (a)  Subject to Subsection (b), an insurer may loan any of the insurer's funds and accumulations and take as collateral an insurance policy issued by the insurer.(b)  A loan on a policy under this section may not exceed the reserve value of the policy.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 425.217 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle B - Reserves and Investments|Chapter 425 - Reserves and Investments for Life Insurance Companies and Related Entities|Subchapter D. Authorized Investments and Transactions for Other Life, Health, and Accident Insurers|Section 425.217. Authorized Investments for All Funds: Loans Secured by Certain Securities

Sec. 425.217.  AUTHORIZED INVESTMENTS FOR ALL FUNDS: LOANS SECURED BY CERTAIN SECURITIES.  An insurer may loan any of the insurer's funds and accumulations and take as collateral for the loan any security described by Sections 425.205-425.213 and 425.218 in which the insurer may invest any of the insurer's funds and accumulations.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 425.218 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle B - Reserves and Investments|Chapter 425 - Reserves and Investments for Life Insurance Companies and Related Entities|Subchapter D. Authorized Investments and Transactions for Other Life, Health, and Accident Insurers|Section 425.218. Authorized Investments for All Funds: Securities Not Otherwise Specified

Sec. 425.218.  AUTHORIZED INVESTMENTS FOR ALL FUNDS: SECURITIES NOT OTHERWISE SPECIFIED.  (a)  Notwithstanding any express or implied prohibitions, and subject to this section, an insurer may invest any of the insurer's funds and accumulations in an investment that does not otherwise qualify under any other provision of this chapter.(b)  The amount of any one investment by an insurer under this section may not exceed one percent of the insurer's admitted assets.(c)  The aggregate amount of investments by an insurer under this section may not exceed the lesser of:(1)  five percent of the insurer's admitted assets; or(2)  the amount of the insurer's capital and surplus in excess of $200,000 as shown on the last annual statement filed by the insurer with the department before the date the investment is acquired.(d)  Except as provided by another law of this state, this section does not authorize an insurer to invest any of the insurer's funds or accumulations in real property.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 425.219 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle B - Reserves and Investments|Chapter 425 - Reserves and Investments for Life Insurance Companies and Related Entities|Subchapter D. Authorized Investments and Transactions for Other Life, Health, and Accident Insurers|Section 425.219. Authorized Investments for Policy Reserves and Surplus: Bonds of Certain Water Control and Improvement Districts

Sec. 425.219.  AUTHORIZED INVESTMENTS FOR POLICY RESERVES AND SURPLUS:  BONDS OF CERTAIN WATER CONTROL AND IMPROVEMENT DISTRICTS.  An insurer may invest the insurer's policy reserves and surplus over and above the insurer's capital in municipal bonds issued under Section 51.039, Water Code.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|