Texas § 424.059 AUTHORIZED INVESTMENTS: GOVERNMENT OBLIGATIONS.

Texas Statutes

§ 424.059 — AUTHORIZED INVESTMENTS: GOVERNMENT OBLIGATIONS.

Texas § 424.059

Code INInsurance Code

This text of Texas § 424.059 (AUTHORIZED INVESTMENTS: GOVERNMENT OBLIGATIONS.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Insurance Code Code Ann. § 424.059 (2026).

Text

Sec. 424.059. AUTHORIZED INVESTMENTS: GOVERNMENT OBLIGATIONS. An insurer may invest the insurer's funds in excess of minimum capital and surplus in a bond or other evidence of indebtedness of any state or of Canada or a province of Canada that:

(1)is issued by the authority of law; and

(2)at the time of purchase:

(A)bears interest; and

(B)is not in default as to principal or interest.

Free access — add to your briefcase to read the full text and ask questions with AI