Insurance Code § 425.158

Sec. 425.158. WAIVER BY COMMISSIONER OF QUANTITATIVE LIMITATIONS. (a) The commissioner may waive a quantitative limitation on any investment authorized by Sections 425.109-425.132 and 425.151-425.156 if: (1) the insurer seeks the waiver before making the investment; (2) a hearing is held to determine whether the waiver should be granted; (3) the applicant seeking the waiver establishes that unreasonable or unnecessary loss or harm will result to the company if the commissioner denies the waiver; (4) the excess investment will not have a material adverse effect on the company; and (5) the size of the investment is reasonable in relation to the company's assets, capital, surplus, and liabilities. (b) The commissioner's waiver must be in writing and may treat the resulting excess investment as a nonadmitted asset. Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.