Insurance Code § 424.103

Sec. 424.103. INVESTMENT POOL REQUIREMENTS AND QUALIFICATIONS. (a) An investment pool must be a business entity. (b) To be qualified, an investment pool must: (1) have a written pooling agreement and a pool manager that comply with the requirements of this subchapter; and (2) comply with Subsection (c). (c) The investment pool may not: (1) acquire securities issued, assumed, guaranteed, or insured by the investing insurer or an affiliate of the investing insurer; (2) borrow or incur indebtedness for borrowed money, except for securities lending and reverse repurchase transactions that meet the requirements of this subchapter; or (3) permit the aggregate value of securities loaned or sold to, purchased from, or invested in a single business entity at the time of the loan, sale, purchase, or investment to exceed 10 percent of the pool's total assets. Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.