Tex. Insurance Code § 425.130
This is the official text of Tex. Insurance Code § 425.130, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 425.130.
Official statutory text
Sec. 425.130. RISK CONTROL TRANSACTIONS: LIMITATIONS ON REPLICATION TRANSACTIONS. (a) An insurance company may enter into a replication transaction only with the prior written approval of the commissioner, and only if:
(1) the company would otherwise be authorized to invest the company's funds under this subchapter in the asset being replicated; and
(2) the asset being replicated is subject to all the provisions of this subchapter relating to the making of investments by the company in that type of asset as if the transaction constituted a direct investment by the company in the replicated asset.
(b) The commissioner may adopt fair and reasonable rules regarding replication transactions to implement this section.
(1) the company would otherwise be authorized to invest the company's funds under this subchapter in the asset being replicated; and
(2) the asset being replicated is subject to all the provisions of this subchapter relating to the making of investments by the company in that type of asset as if the transaction constituted a direct investment by the company in the replicated asset.
(b) The commissioner may adopt fair and reasonable rules regarding replication transactions to implement this section.
Status: in_force · Read it on the official government site
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