Tex. Insurance Code § 882.252
This is the official text of Tex. Insurance Code § 882.252, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 882.252. INVESTMENT OF MONEY.
Official statutory text
(a) A mutual life insurance company shall invest the company's money in accordance with the law governing investments of life, health, and accident insurance companies organized under Chapter 841.
(b) An officer of a mutual life insurance company who does not invest the money of the company as required by Subsection (a) shall deposit the money in the name of the company in a bank that:
(1) is subject to state or federal regulation; and
(2) has been approved by the commissioner as a depository for that purpose.
(b) An officer of a mutual life insurance company who does not invest the money of the company as required by Subsection (a) shall deposit the money in the name of the company in a bank that:
(1) is subject to state or federal regulation; and
(2) has been approved by the commissioner as a depository for that purpose.
Status: in_force · Read it on the official government site
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