{"data":{"id":"us-tx/tex.-insurance-code-424.151","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 424.151","heading":"DEFINITIONS.","body":"In this subchapter:\n(1) \"Dollar roll transaction\" means two simultaneous transactions with settlement dates not more than 96 days apart, in one of which an insurer sells to a business entity, and in the other of which the insurer is obligated to purchase from the same business entity, substantially similar securities that are:\n(A) mortgage-backed securities issued, assumed, or guaranteed by the Government National Mortgage Association, the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, or a successor to one of those organizations; or\n(B) other mortgage-backed securities referred to in 15 U.S.C. Section 77r-1 et seq., as amended.\n(2) \"Repurchase transaction\" means a transaction in which an insurer purchases securities from a business entity that is obligated to repurchase the purchased securities or equivalent securities from the insurer at a specified price, either within a specified period or on demand.\n(3) \"Reverse repurchase transaction\" means a transaction in which an insurer sells securities to a business entity and is obligated to repurchase the sold securities or equivalent securities from the business entity at a specified price, either within a specified period or on demand.\n(4) \"Securities lending transaction\" means a transaction in which an insurer lends securities to a business entity that is obligated to return the loaned securities or equivalent securities to the insurer, either within a specified period or on demand.\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 D. DOLLAR ROLL, REPURCHASE, REVERSE REPURCHASE, AND SECURITIES LENDING TRANSACTIONS"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.424.htm#424.151","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"77b096473f6943a272412ddfa1c99b360c1198bbba0471407af1d3ba687bee86","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-424.115","next":"us-tx/tex.-insurance-code-424.152"},"notice":"GroundRules: Original legal text. Not legal advice."}