Texas Insurance Code 424.067 – Authorized Investments: Transportation Equipment
Current as of: 2024 | Check for updates
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Terms Used In Texas Insurance Code 424.067
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005
An insurer may invest the insurer’s funds in excess of minimum capital and surplus in:
(1) an adequately secured equipment trust obligation, certificate, or other instrument evidencing an interest in transportation equipment wholly or partly located in the United States; and
(2) a right to receive determined portions of rental, purchase, or other fixed obligatory payments for the use or purchase of the equipment.