Texas Insurance Code 425.111 – Authorized Investments: Bonds Issued, Assumed, or Guaranteed in International Market
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(a) Subject to this section, an insurance company may invest 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 Asian Development Bank;
(4) the State of Israel;
(5) the African Development Bank; and
(6) the International Finance Corporation.
(b) An insurance company’s investments in the bonds of a single entity under this section may not exceed 20 percent of the company’s capital and surplus.
Terms Used In Texas Insurance Code 425.111
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
(c) The aggregate of all investments made by an insurance company under this section may not exceed 20 percent of the company’s assets.