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Tex. Insurance Code § 911.061

AUTHORITY TO BORROW MONEY

Texas · Texas Insurance Code · Status: effective

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Tex. Insurance Code § 911.061, AUTHORITY TO BORROW MONEY, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/680367
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(a) The board of directors of a farm mutual insurance company, acting through its authorized officers, may borrow money in an amount determined to be necessary to pay the company's accrued or unaccrued losses. (b) The board may pledge as security for a loan the assets of the company, including the contingent liability of its policyholders.