Texas Insurance Code 424.059 – Authorized Investments: Government Obligations
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Terms Used In Texas Insurance Code 424.059
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
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.