Tex. Insurance Code § 425.122
This is the official text of Tex. Insurance Code § 425.122, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 425.122.
Official statutory text
Sec. 425.122. AUTHORIZED INVESTMENTS: PREMIUM LOANS. (a) Subject to Subsection (b), an insurance company may make loans to finance the payment of premiums for the company's own insurance policies or annuity contracts.
(b) The amount of a loan under this section may not exceed the sum of:
(1) the available cash value of the insurance policy or annuity contract for which the premium loan is made; and
(2) the amount of any escrowed commissions payable relating to the insurance policy or annuity contract.
(b) The amount of a loan under this section may not exceed the sum of:
(1) the available cash value of the insurance policy or annuity contract for which the premium loan is made; and
(2) the amount of any escrowed commissions payable relating to the insurance policy or annuity contract.
Status: in_force · Read it on the official government site
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