Insurance Code § 912.309
A policyholder may lend money to a county mutual insurance company for permitted business or compliance needs. The company may repay the loan and interest only with commissioner approval, from surplus after required reserves and liabilities are covered, and at up to 10% annual interest. The company may not pay loan-rel
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- Jurisdiction
- United States — Texas
- Instrument
- Code
- Version
- Undated source snapshot
- Language
- en
- Official source
- View official record ↗
Statute overview
About this statute
A policyholder may lend money to a county mutual insurance company for permitted business or compliance needs. The company may repay the loan and interest only with commissioner approval, from surplus after required reserves and liabilities are covered, and at up to 10% annual interest. The company may not pay loan-related commissions or bonuses, and it must report each loan in its annual statement.
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Insurance Code § 912.309
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