Texas § IN.882.251 - LIMITED AUTHORITY TO BORROW MONEY
Full text of Texas The Texas Constitution § IN.882.251 — LIMITED AUTHORITY TO BORROW MONEY, with citation guidance and answers to common questions.
§ IN.882.251. LIMITED AUTHORITY TO BORROW MONEY
LIMITED AUTHORITY TO BORROW MONEY. (a) Except as provided by this subchapter, a mutual life insurance company may not borrow money for any purpose other than to pay a death loss. (b) A company may not incur a debt on an account for which any part of the company's assets that exceeds the assets represented by or derived from the expense loading in the premiums collected by the company is subject to execution on a judgment. (c) Subsection (b) does not prohibit a company from incurring a debt on an account: (1) under a policy issued by the company; or (2) to borrow money to pay a death loss. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § IN.882.251
What does The Texas Constitution § IN.882.251 cover?
Section IN.882.251 ("LIMITED AUTHORITY TO BORROW MONEY") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § IN.882.251?
A common citation format is "The Texas Constitution § IN.882.251" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § IN.882.251 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.