{"data":{"id":"us-tx/tex.-insurance-code-424.105","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 424.105","heading":"SHORT-TERM INVESTMENT POOL: CERTAIN SHORT-TERM OBLIGATIONS.","body":"(a) Obligations contained in a short-term investment pool must meet the requirements of this section.\n(b) The obligations must:\n(1) have a rating by the securities valuation office of one or two, or an equivalent rating issued by a nationally recognized statistical rating organization recognized by the securities valuation office; or\n(2) be issued by an issuer with outstanding obligations that have a rating described by Subdivision (1).\n(c) The obligations must have:\n(1) a remaining maturity of 397 days or less or a put that:\n(A) entitles the holder to receive the principal amount of the obligation; and\n(B) may be exercised through maturity at specified intervals not exceeding 397 days; or\n(2) a remaining maturity of three years or less and a floating interest rate that resets at least quarterly on the basis of a current short-term index and is not subject to a maximum limit, if the obligations do not have an interest rate that varies inversely to market interest rate changes.\n(d) For purposes of this section, a current short-term index is:\n(1) a federal funds rate;\n(2) the prime rate;\n(3) the rate for treasury bills;\n(4) the London InterBank Offered Rate; or\n(5) the rate for commercial paper.\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 424. INVESTMENTS FOR CERTAIN INSURERS","SUBCHAPTER C. INVESTMENT POOLS"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.424.htm#424.105","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"2ccebe659f6bdaa78e1fdfc51a2362fc22a947eb8956f4bfc4d19542c6a9ad5a","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-424.104","next":"us-tx/tex.-insurance-code-424.106"},"notice":"GroundRules: Original legal text. Not legal advice."}