Texas § IN.424.070 - AUTHORIZED INVESTMENTS
Full text of Texas The Texas Constitution § IN.424.070 — AUTHORIZED INVESTMENTS, with citation guidance and answers to common questions.
§ IN.424.070. AUTHORIZED INVESTMENTS
AUTHORIZED INVESTMENTS: OBLIGATIONS OF LOCAL GOVERNMENTAL ENTITIES. (a) Subject to this section, an insurer may invest the insurer's funds in excess of minimum capital and surplus in a bond or other interest-bearing evidence of indebtedness of a: (1) county or subdivision of a county; (2) municipality; (3) road district; (4) turnpike district or authority; (5) water district; (6) school district; (7) sanitary or navigation district; or (8) municipally owned revenue water system, sewer system, or electric utility company with respect to which the municipality has appropriated, pledged, or otherwise provided for special revenues to meet the principal and interest payments of the bond or other evidence of indebtedness. (b) A bond or other evidence of indebtedness of a navigation district is an authorized investment under this section only if: (1) the navigation district is located wholly or partly in a county that has a population of at least 100,000; and (2) the interest due on the bond or other evidence of indebtedness has never been in default. Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017 ), Sec. 1, eff. April 1, 2007.
Frequently Asked Questions About Texas § IN.424.070
What does The Texas Constitution § IN.424.070 cover?
Section IN.424.070 ("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.424.070?
A common citation format is "The Texas Constitution § IN.424.070" (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.424.070 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.