{"data":{"id":"us-tx/tex.-insurance-code-423.051","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 423.051","heading":"DEPOSIT AND INVESTMENT OF MONEY.","body":"A director, member of a committee, officer, or clerk of a domestic insurer who has the duty to handle or invest the insurer's money may not:\n(1) invest the money other than in the corporate name of the insurer, except as provided by Section 423.102;\n(2) deposit the money unless the deposit is:\n(A) in the corporate name of the insurer;\n(B) in a pooling account with one or more affiliates, as described by Section 823.003; or\n(C) in accordance with a reinsurance agreement;\n(3) borrow the insurer's money;\n(4) have any interest in a loan, pledge, security, or property of the insurer, except as a stockholder; or\n(5) take or receive for the individual's use a fee, brokerage, commission, gift, or other consideration for, or on account of, a loan made by or on behalf of the insurer.\nAdded by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.","path":["INSURANCE CODE","TITLE 4. REGULATION OF SOLVENCY","SUBTITLE B. RESERVES AND INVESTMENTS","CHAPTER 423. TRANSACTIONS WITH MONEY AND OTHER ASSETS","SUBCHAPTER B. TRANSACTIONS WITH MONEY"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.423.htm#423.051","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"47c10fa542fb4aaf5312a04054cb6c43ed981cba70d0dce85d3f598f7b925790","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-423.004","next":"us-tx/tex.-insurance-code-423.052"},"notice":"GroundRules: Original legal text. Not legal advice."}