Sec. 964.061. INVESTMENTS. (a) A captive insurance company is not subject to a restriction on allowable investments, except as provided by this section.
(b) A captive insurance company may make loans to its affiliates with the prior approval of the commissioner. Each loan must be evidenced by a note approved by the commissioner. A captive insurance company may not make a loan of the minimum capital and surplus funds, or the equivalent, required by this chapter.
(c) The commissioner may prohibit or limit an investment that threatens the solvency or liquidity of a captive insurance company.
Added by Acts 2013, 83rd Leg., R.S., Ch. 569 (S.B. 734), Sec. 2, eff. June 14, 2013.
Amended by:
Acts 2017, 85th Leg., R.S., Ch. 1050 (H.B. 1944), Sec. 1.11, eff. June 15, 2017.
Structure Texas Statutes
Title 6 - Organization of Insurers and Related Entities
Chapter 964 - Captive Insurance Companies
Subchapter B. Captive Insurance Companies
Section 964.051. Authority to Write Direct Business
Section 964.054. Reserves and Accounting Basis
Section 964.055. Certificate of Authority Required
Section 964.056. Capital and Surplus or Equivalent Requirements
Section 964.057. Application for Certificate of Authority
Section 964.058. Examination by Commissioner
Section 964.059. Action on Application
Section 964.060. Annual Report
Section 964.062. Amendments to Certificate of Formation or Governing Document
Section 964.063. Dividends and Distributions
Section 964.064. Prohibition on Joining or Contributing to Certain Entities and Funds
Section 964.065. Suspension or Revocation of Certificate of Authority
Section 964.066. Standards for Risk Management of Controlled Unaffiliated Business
Section 964.067. Captive Managers
Section 964.068. Maintenance Tax
Section 964.069. Rulemaking Authority
Section 964.070. Confidentiality
Section 964.071. Redomestication