Texas Insurance Code 424.072 – Authorized Investments: Bonds Issued, Assumed, or Guaranteed in International Market
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Texas Insurance Code 424.072
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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 bonds issued, assumed, or guaranteed by any of the following international financial institutions in which the United States is a member:
(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; or
(5) the International Finance Corporation.