AUTHORIZED INVESTMENTS FOR ALL FUNDS: POLICY LOANS
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff
(a) Subject to Subsection (b), an insurer may loan any of the insurer's funds and accumulations and take as collateral an insurance policy issued by the insurer.
(b) A loan on a policy under this section may not exceed the reserve value of the policy.
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.