Texas § IN.424.060 - AUTHORIZED INVESTMENTS
Full text of Texas The Texas Constitution § IN.424.060 — AUTHORIZED INVESTMENTS, with citation guidance and answers to common questions.
§ IN.424.060. AUTHORIZED INVESTMENTS
AUTHORIZED INVESTMENTS: STOCK OF NATIONAL OR STATE BANK. (a) An insurer may invest the insurer's funds in excess of minimum capital and surplus in the stock of: (1) a national bank; or (2) a state bank of this state whose deposits are insured by the Federal Deposit Insurance Corporation. (b) Notwithstanding Subsection (a)(2): (1) not more than 35 percent of the total outstanding stock of a single state bank may be purchased by a single insurer; and (2) if an insurer has invested the insurer's funds in 35 percent of a state bank's stock under this section, no other insurer may invest funds in the bank's remaining stock. Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017 ), Sec. 1, eff. April 1, 2007.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § IN.424.060
What does The Texas Constitution § IN.424.060 cover?
Section IN.424.060 ("AUTHORIZED INVESTMENTS") 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.424.060?
A common citation format is "The Texas Constitution § IN.424.060" (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.424.060 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.