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Subchapter A. General Provisions
Section 425.001. Securities in Amount of Reserves Required - Sec. 425.001. SECURITIES IN AMOUNT OF RESERVES REQUIRED. The commissioner,...
Section 425.002. Certain Insurers: Deposit of Securities, Money, or Property in Amount of Legal Reserves - Sec. 425.002. CERTAIN INSURERS: DEPOSIT OF SECURITIES, MONEY, OR PROPERTY...
Section 425.003. Certain Insurers: Required Deposits of Securities; Additional Deposits and Withdrawals - Sec. 425.003. CERTAIN INSURERS: REQUIRED DEPOSITS OF SECURITIES; ADDITIONAL DEPOSITS...
Section 425.004. Records of Securities Deposited With Department; Report of Value - Sec. 425.004. RECORDS OF SECURITIES DEPOSITED WITH DEPARTMENT; REPORT OF...
Section 425.005. Department Duties Regarding Deposited Securities; Insurance Company Access - Sec. 425.005. DEPARTMENT DUTIES REGARDING DEPOSITED SECURITIES; INSURANCE COMPANY ACCESS....
Section 425.006. Additional Reserves Required: Substandard or Extra Hazardous Policies - Sec. 425.006. ADDITIONAL RESERVES REQUIRED: SUBSTANDARD OR EXTRA HAZARDOUS POLICIES....
Section 425.007. Subscription to or Underwriting Purchase or Sale of Securities or Property Prohibited; Control of Disposition of Property - Sec. 425.007. SUBSCRIPTION TO OR UNDERWRITING PURCHASE OR SALE OF...
Section 425.008. Authorized Investments for Foreign Companies - Sec. 425.008. AUTHORIZED INVESTMENTS FOR FOREIGN COMPANIES. A foreign company...
Section 425.009. Student Loans - Sec. 425.009. STUDENT LOANS. A foreign or domestic life insurance...
Subchapter B. Standard Valuation Law
Section 425.051. Short Title - Sec. 425.051. SHORT TITLE. This subchapter may be cited as...
Section 425.052. Definitions - Sec. 425.052. DEFINITIONS. (a) In this subchapter: (1) "Accident and...
Section 425.053. Annual Valuation of Reserves for Policies and Contracts Issued Before Operative Date of Valuation Manual - Sec. 425.053. ANNUAL VALUATION OF RESERVES FOR POLICIES AND CONTRACTS...
Section 425.0535. Annual Valuation of Reserves for Policies and Contracts Issued on or After Operative Date of Valuation Manual - Sec. 425.0535. ANNUAL VALUATION OF RESERVES FOR POLICIES AND CONTRACTS...
Section 425.054. Actuarial Opinion of Reserves Issued Before Operative Date of Valuation Manual - Sec. 425.054. ACTUARIAL OPINION OF RESERVES ISSUED BEFORE OPERATIVE DATE...
Section 425.0545. Actuarial Opinion of Reserves After Operative Date of Valuation Manual - Sec. 425.0545. ACTUARIAL OPINION OF RESERVES AFTER OPERATIVE DATE OF...
Section 425.055. Supporting Memorandum for Actuarial Opinion - Sec. 425.055. SUPPORTING MEMORANDUM FOR ACTUARIAL OPINION. (a) A memorandum...
Section 425.056. Limitation on Liability for Actuarial Opinion - Sec. 425.056. LIMITATION ON LIABILITY FOR ACTUARIAL OPINION. (a) Except...
Section 425.057. Disciplinary Action: Company or Person Certifying Opinion - Sec. 425.057. DISCIPLINARY ACTION: COMPANY OR PERSON CERTIFYING OPINION. A...
Section 425.058. Computation of Minimum Standard: General Rule - Sec. 425.058. COMPUTATION OF MINIMUM STANDARD: GENERAL RULE. (a) Except...
Section 425.059. Computation of Minimum Standard for Certain Annuities and Pure Endowment Contracts - Sec. 425.059. COMPUTATION OF MINIMUM STANDARD FOR CERTAIN ANNUITIES AND...
Section 425.060. Applicability of Calendar Year Statutory Valuation Interest Rates - Sec. 425.060. APPLICABILITY OF CALENDAR YEAR STATUTORY VALUATION INTEREST RATES....
Section 425.061. Computation of Calendar Year Statutory Valuation Interest Rate: General Rule - Sec. 425.061. COMPUTATION OF CALENDAR YEAR STATUTORY VALUATION INTEREST RATE:...
Section 425.062. Weighting Factors - Sec. 425.062. WEIGHTING FACTORS. (a) This section prescribes the weighting...
Section 425.063. Reference Interest Rate - Sec. 425.063. REFERENCE INTEREST RATE. (a) In this section, "Moody's...
Section 425.064. Commissioners Reserve Valuation Method for Life Insurance and Endowment Benefits - Sec. 425.064. COMMISSIONERS RESERVE VALUATION METHOD FOR LIFE INSURANCE AND...
Section 425.065. Commissioners Annuity Reserve Valuation Method for Annuity and Pure Endowment Benefits - Sec. 425.065. COMMISSIONERS ANNUITY RESERVE VALUATION METHOD FOR ANNUITY AND...
Section 425.066. Minimum Aggregate Reserves - Sec. 425.066. MINIMUM AGGREGATE RESERVES. (a) An insurance company's aggregate...
Section 425.067. Optional Reserve Computations - Sec. 425.067. OPTIONAL RESERVE COMPUTATIONS. (a) Reserves for a policy...
Section 425.068. Reserve Computation: Gross Premium Charged Less Than Valuation Net Premium - Sec. 425.068. RESERVE COMPUTATION: GROSS PREMIUM CHARGED LESS THAN VALUATION...
Section 425.069. Reserve Computation: Indeterminate Premium Plans and Certain Other Plans - Sec. 425.069. RESERVE COMPUTATION: INDETERMINATE PREMIUM PLANS AND CERTAIN OTHER...
Section 425.070. Computation of Reserve for Certain Policies by Calendar Year of Issue - Sec. 425.070. COMPUTATION OF RESERVE FOR CERTAIN POLICIES BY CALENDAR...
Section 425.071. Lapse Rates in Minimum Standard of Valuation - Sec. 425.071. LAPSE RATES IN MINIMUM STANDARD OF VALUATION. (a)...
Section 425.072. Minimum Standard for Accident and Health Insurance Contracts - Sec. 425.072. MINIMUM STANDARD FOR ACCIDENT AND HEALTH INSURANCE CONTRACTS....
Section 425.073. Valuation Manual for Policies Issued on or After the Operative Date of the Valuation Manual - Sec. 425.073. VALUATION MANUAL FOR POLICIES ISSUED ON OR AFTER...
Section 425.074. Requirements of a Principle-Based Valuation - Sec. 425.074. REQUIREMENTS OF A PRINCIPLE-BASED VALUATION. (a) A company...
Section 425.075. Experience Reporting for Policies in Force on or After Operative Date of Valuation Manual - Sec. 425.075. EXPERIENCE REPORTING FOR POLICIES IN FORCE ON OR...
Section 425.076. Confidentiality - Sec. 425.076. CONFIDENTIALITY. (a) In this section, "confidential information" means:...
Section 425.077. Single State Exemption - Sec. 425.077. SINGLE STATE EXEMPTION. The commissioner may exempt specific...
Subchapter C. Authorized Investments and Transactions for Capital Stock Life, Health, and Accident Insurers
Section 425.101. Definitions - Sec. 425.101. DEFINITIONS. In this subchapter: (1) "Assets" means the...
Section 425.102. Inapplicability of Certain Law - Sec. 425.102. INAPPLICABILITY OF CERTAIN LAW. The definition of "state"...
Section 425.103. Applicability of Subchapter - Sec. 425.103. APPLICABILITY OF SUBCHAPTER. (a) This subchapter and rules...
Section 425.104. Purpose - Sec. 425.104. PURPOSE. The purpose of this subchapter is to...
Section 425.105. Written Investment Plan - Sec. 425.105. WRITTEN INVESTMENT PLAN. (a) Each insurance company's board...
Section 425.106. Investment Records; Demonstration of Compliance - Sec. 425.106. INVESTMENT RECORDS; DEMONSTRATION OF COMPLIANCE. An insurance company...
Section 425.108. Authorized Investments and Transactions in General - Sec. 425.108. AUTHORIZED INVESTMENTS AND TRANSACTIONS IN GENERAL. (a) Subject...
Section 425.109. Authorized Investments: Government Obligations - Sec. 425.109. AUTHORIZED INVESTMENTS: GOVERNMENT OBLIGATIONS. (a) An insurance company...
Section 425.110. Authorized Investments: Obligations of and Other Investments in Business Entities - Sec. 425.110. AUTHORIZED INVESTMENTS: OBLIGATIONS OF AND OTHER INVESTMENTS IN...
Section 425.111. Authorized Investments: Bonds Issued, Assumed, or Guaranteed in International Market - Sec. 425.111. AUTHORIZED INVESTMENTS: BONDS ISSUED, ASSUMED, OR GUARANTEED IN...
Section 425.112. Authorized Investments: Policy Loans - Sec. 425.112. AUTHORIZED INVESTMENTS: POLICY LOANS. An insurance company may...
Section 425.113. Authorized Investments: Deposits in Certain Financial Institutions - Sec. 425.113. AUTHORIZED INVESTMENTS: DEPOSITS IN CERTAIN FINANCIAL INSTITUTIONS. (a)...
Section 425.114. Authorized Investments: Insurance Company Investment Pools - Sec. 425.114. AUTHORIZED INVESTMENTS: INSURANCE COMPANY INVESTMENT POOLS. (a) In...
Section 425.115. Authorized Investments: Equity Interests - Sec. 425.115. AUTHORIZED INVESTMENTS: EQUITY INTERESTS. (a) In this section,...
Section 425.116. Authorized Investments: Preferred Stock - Sec. 425.116. AUTHORIZED INVESTMENTS: PREFERRED STOCK. (a) Subject to this...
Section 425.117. Authorized Investments: Collateral Loans - Sec. 425.117. AUTHORIZED INVESTMENTS: COLLATERAL LOANS. (a) Subject to this...
Section 425.118. Authorized Investments: Obligations Secured by Real Property Loans - Sec. 425.118. AUTHORIZED INVESTMENTS: OBLIGATIONS SECURED BY REAL PROPERTY LOANS....
Section 425.1185. Authorized Investments: Mezzanine Real Estate Loans - Sec. 425.1185. AUTHORIZED INVESTMENTS: MEZZANINE REAL ESTATE LOANS. (a) In...
Section 425.119. Authorized Investments: Real Property - Sec. 425.119. AUTHORIZED INVESTMENTS: REAL PROPERTY. (a) Subject to this...
Section 425.120. Authorized Investments: Oil, Gas, and Minerals - Sec. 425.120. AUTHORIZED INVESTMENTS: OIL, GAS, AND MINERALS. (a) In...
Section 425.121. Authorized Investments: Securities Lending, Repurchase, Reverse Repurchase, and Dollar Roll Transactions - Sec. 425.121. AUTHORIZED INVESTMENTS: SECURITIES LENDING, REPURCHASE, REVERSE REPURCHASE, AND...
Section 425.122. Authorized Investments: Premium Loans - Sec. 425.122. AUTHORIZED INVESTMENTS: PREMIUM LOANS. (a) Subject to Subsection...
Section 425.123. Authorized Investments: Money Market Funds - Sec. 425.123. AUTHORIZED INVESTMENTS: MONEY MARKET FUNDS. (a) An insurance...
Section 425.124. Authorized Investments: Risk Control Transactions - Sec. 425.124. AUTHORIZED INVESTMENTS: RISK CONTROL TRANSACTIONS. Subject to Sections...
Section 425.125. Risk Control Transactions: Definitions - Sec. 425.125. RISK CONTROL TRANSACTIONS: DEFINITIONS. In Sections 425.124-425.132: (1)...
Section 425.126. Risk Control Transactions: Derivative Use Plan - Sec. 425.126. RISK CONTROL TRANSACTIONS: DERIVATIVE USE PLAN. (a) Before...
Section 425.127. Risk Control Transactions: Internal Control Procedures - Sec. 425.127. RISK CONTROL TRANSACTIONS: INTERNAL CONTROL PROCEDURES. An insurance...
Section 425.128. Risk Control Transactions: Oversight by Commissioner - Sec. 425.128. RISK CONTROL TRANSACTIONS: OVERSIGHT BY COMMISSIONER. (a) An...
Section 425.129. Risk Control Transactions: Limitations on Income Generation Transactions - Sec. 425.129. RISK CONTROL TRANSACTIONS: LIMITATIONS ON INCOME GENERATION TRANSACTIONS....
Section 425.130. Risk Control Transactions: Limitations on Replication Transactions - Sec. 425.130. RISK CONTROL TRANSACTIONS: LIMITATIONS ON REPLICATION TRANSACTIONS. (a)...
Section 425.131. Risk Control Transactions: Trading Requirements - Sec. 425.131. RISK CONTROL TRANSACTIONS: TRADING REQUIREMENTS. For purposes of...
Section 425.132. Risk Control Transactions: Offsetting Transactions - Sec. 425.132. RISK CONTROL TRANSACTIONS: OFFSETTING TRANSACTIONS. (a) Subject to...
Section 425.151. Authorized Investments: Foreign Countries and United States Territories - Sec. 425.151. AUTHORIZED INVESTMENTS: FOREIGN COUNTRIES AND UNITED STATES TERRITORIES....
Section 425.152. Authorized Investments: Investments Not Otherwise Specified or Prohibited; Investments Authorized by Other Law - Sec. 425.152. AUTHORIZED INVESTMENTS: INVESTMENTS NOT OTHERWISE SPECIFIED OR PROHIBITED;...
Section 425.153. Authorized Investments: Certain Previously Authorized Investments - Sec. 425.153. AUTHORIZED INVESTMENTS: CERTAIN PREVIOUSLY AUTHORIZED INVESTMENTS. (a) An...
Section 425.154. Applicability of Percentage Authorizations and Limitations - Sec. 425.154. APPLICABILITY OF PERCENTAGE AUTHORIZATIONS AND LIMITATIONS. The percentage...
Section 425.155. Qualification of Investments - Sec. 425.155. QUALIFICATION OF INVESTMENTS. (a) The qualification or disqualification...
Section 425.156. Distributions, Reinsurance, and Merger - Sec. 425.156. DISTRIBUTIONS, REINSURANCE, AND MERGER. (a) This subchapter does...
Section 425.157. Aggregate Diversification Requirements - Sec. 425.157. AGGREGATE DIVERSIFICATION REQUIREMENTS. (a) This section takes precedence...
Section 425.158. Waiver by Commissioner of Quantitative Limitations - Sec. 425.158. WAIVER BY COMMISSIONER OF QUANTITATIVE LIMITATIONS. (a) The...
Section 425.159. Accounting Provisions - Sec. 425.159. ACCOUNTING PROVISIONS. (a) Each insurance company shall maintain...
Section 425.160. Investments of Ceding Insurers - Sec. 425.160. INVESTMENTS OF CEDING INSURERS. (a) Subject to this...
Section 425.161. Acting as Real Estate Broker or Salesperson Prohibited - Sec. 425.161. ACTING AS REAL ESTATE BROKER OR SALESPERSON PROHIBITED....
Section 425.162. Rules - Sec. 425.162. RULES. The commissioner may adopt rules, minimum standards,...
Subchapter D. Authorized Investments and Transactions for Other Life, Health, and Accident Insurers
Section 425.201. Definition - Sec. 425.201. DEFINITION. In this subchapter, "contingency funds" means an...
Section 425.202. Applicability of Subchapter - Sec. 425.202. APPLICABILITY OF SUBCHAPTER. This subchapter applies only to...
Section 425.203. Limitation on Funds and Other Assets - Sec. 425.203. LIMITATION ON FUNDS AND OTHER ASSETS. (a) An...
Section 425.204. Approval of Investments and Loans Required - Sec. 425.204. APPROVAL OF INVESTMENTS AND LOANS REQUIRED. (a) An...
Section 425.205. Authorized Investments for All Funds: Government Bonds - Sec. 425.205. AUTHORIZED INVESTMENTS FOR ALL FUNDS: GOVERNMENT BONDS. (a)...
Section 425.206. Authorized Investments for All Funds: Corporate Bonds, Notes, and Debentures - Sec. 425.206. AUTHORIZED INVESTMENTS FOR ALL FUNDS: CORPORATE BONDS, NOTES,...
Section 425.2061. Authorized Investments for All Funds: Bond Exchange-Traded Funds - Sec. 425.2061. AUTHORIZED INVESTMENTS FOR ALL FUNDS: BOND EXCHANGE-TRADED FUNDS....
Section 425.207. Authorized Investments for All Funds: Shares of Savings and Loan Associations - Sec. 425.207. AUTHORIZED INVESTMENTS FOR ALL FUNDS: SHARES OF SAVINGS...
Section 425.208. Authorized Investments for All Funds: Bank and Bank Holding Company Stocks - Sec. 425.208. AUTHORIZED INVESTMENTS FOR ALL FUNDS: BANK AND BANK...
Section 425.209. Authorized Investments for All Funds: Debentures of Public Utility Corporations - Sec. 425.209. AUTHORIZED INVESTMENTS FOR ALL FUNDS: DEBENTURES OF PUBLIC...
Section 425.210. Authorized Investments for All Funds: Preferred Stock of Public Utility Corporations - Sec. 425.210. AUTHORIZED INVESTMENTS FOR ALL FUNDS: PREFERRED STOCK OF...
Section 425.211. Authorized Investments for All Funds: Bonds Issued, Assumed, or Guaranteed in International Market - Sec. 425.211. AUTHORIZED INVESTMENTS FOR ALL FUNDS: BONDS ISSUED, ASSUMED,...
Section 425.212. Authorized Investments for All Funds: Securities or Investments Authorized or Described by Specific Statutory Provision - Sec. 425.212. AUTHORIZED INVESTMENTS FOR ALL FUNDS: SECURITIES OR INVESTMENTS...
Section 425.213. Authorized Investments for All Funds: Other Securities Specifically Authorized by Law - Sec. 425.213. AUTHORIZED INVESTMENTS FOR ALL FUNDS: OTHER SECURITIES SPECIFICALLY...
Section 425.214. Authorized Investments for All Funds: Loans Secured by Real Property - Sec. 425.214. AUTHORIZED INVESTMENTS FOR ALL FUNDS: LOANS SECURED BY...
Section 425.215. Authorized Investments for All Funds: Loans Secured by Certain Collateral Secured by Real Property - Sec. 425.215. AUTHORIZED INVESTMENTS FOR ALL FUNDS: LOANS SECURED BY...
Section 425.216. Authorized Investments for All Funds: Policy Loans - Sec. 425.216. AUTHORIZED INVESTMENTS FOR ALL FUNDS: POLICY LOANS. (a)...
Section 425.217. Authorized Investments for All Funds: Loans Secured by Certain Securities - Sec. 425.217. AUTHORIZED INVESTMENTS FOR ALL FUNDS: LOANS SECURED BY...
Section 425.218. Authorized Investments for All Funds: Securities Not Otherwise Specified - Sec. 425.218. AUTHORIZED INVESTMENTS FOR ALL FUNDS: SECURITIES NOT OTHERWISE...
Section 425.219. Authorized Investments for Policy Reserves and Surplus: Bonds of Certain Water Control and Improvement Districts - Sec. 425.219. AUTHORIZED INVESTMENTS FOR POLICY RESERVES AND SURPLUS: BONDS...
Section 425.220. Authorized Investments for Capital, Surplus, and Contingency Funds: Capital Stock, Bonds, and Other Corporate Obligations - Sec. 425.220. AUTHORIZED INVESTMENTS FOR CAPITAL, SURPLUS, AND CONTINGENCY FUNDS:...
Section 425.221. Authorized Investments for Capital, Surplus, and Contingency Funds: Bonds or Notes of Educational or Religious Corporations - Sec. 425.221. AUTHORIZED INVESTMENTS FOR CAPITAL, SURPLUS, AND CONTINGENCY FUNDS:...
Section 425.222. Authorized Investments for Capital, Surplus, and Contingency Funds: Life Income Interests in Qualified Trusts - Sec. 425.222. AUTHORIZED INVESTMENTS FOR CAPITAL, SURPLUS, AND CONTINGENCY FUNDS:...
Section 425.223. Authorized Investments for Capital, Surplus, and Contingency Funds: Capital Stock of Reinsurer - Sec. 425.223. AUTHORIZED INVESTMENTS FOR CAPITAL, SURPLUS, AND CONTINGENCY FUNDS:...
Section 425.224. Authorized Investments for Capital, Surplus, and Contingency Funds: Loans Secured by Corporate Stock - Sec. 425.224. AUTHORIZED INVESTMENTS FOR CAPITAL, SURPLUS, AND CONTINGENCY FUNDS:...
Section 425.225. Investment in Foreign Securities - Sec. 425.225. INVESTMENT IN FOREIGN SECURITIES. (a) An insurer authorized...
Section 425.226. Investment in Stock Subject to Assessment Prohibited - Sec. 425.226. INVESTMENT IN STOCK SUBJECT TO ASSESSMENT PROHIBITED. An...
Section 425.227. Certain Investment Powers Not a Restriction - Sec. 425.227. CERTAIN INVESTMENT POWERS NOT A RESTRICTION. The investment...
Section 425.228. Investments of Ceding Insurer - Sec. 425.228. INVESTMENTS OF CEDING INSURER. (a) Subject to this...
Section 425.229. Authorized Investments: Real Estate for Insurer's Offices - Sec. 425.229. AUTHORIZED INVESTMENTS: REAL ESTATE FOR INSURER'S OFFICES. (a)...
Section 425.230. Authorized Investments: Oil, Gas, and Minerals - Sec. 425.230. AUTHORIZED INVESTMENTS: OIL, GAS, AND MINERALS. (a) In...
Section 425.231. Authorized Investments: Real Property Acquired Under Certain Circumstances - Sec. 425.231. AUTHORIZED INVESTMENTS: REAL PROPERTY ACQUIRED UNDER CERTAIN CIRCUMSTANCES....
Section 425.232. Authorized Investments: Improved Income-Producing Real Property - Sec. 425.232. AUTHORIZED INVESTMENTS: IMPROVED INCOME-PRODUCING REAL PROPERTY. (a) In...