Tex. Insurance Code § 425.204
This is the official text of Tex. Insurance Code § 425.204, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 425.204. APPROVAL OF INVESTMENTS AND LOANS REQUIRED.
Official statutory text
(a) An insurer may not make an investment unless the investment has been authorized by the insurer's board of directors or by a committee responsible for supervising investments.
(b) An insurer may not make a loan other than a policy loan unless the loan has been authorized by the insurer's board of directors or by a committee responsible for supervising loans.
(b) An insurer may not make a loan other than a policy loan unless the loan has been authorized by the insurer's board of directors or by a committee responsible for supervising loans.
Status: in_force · Read it on the official government site
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