{"data":{"id":"us-tx/tex.-insurance-code-912.054","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 912.054","heading":"AUTHORITY TO BORROW MONEY.","body":"(a) The board of directors of a county mutual insurance company may borrow money in an amount determined to be necessary to pay the company's accrued or unaccrued losses.\n(b) The board may pledge as security for a loan the assets of the company, including the contingent liability of its policyholders.\nAdded by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.","path":["INSURANCE CODE","TITLE 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES","SUBTITLE F. FARM AND COUNTY MUTUAL INSURANCE COMPANIES","CHAPTER 912. COUNTY MUTUAL INSURANCE COMPANIES","SUBCHAPTER B. ORGANIZATION OF COUNTY MUTUAL INSURANCE COMPANY; DIRECTORS"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.912.htm#912.054","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"5df5325811437226c941c8aabc473e636efae7fb82f764285e0dfef6e8227493","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-912.053","next":"us-tx/tex.-insurance-code-912.055"},"notice":"GroundRules: Original legal text. Not legal advice."}