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Tex. Insurance Code § 912.054

AUTHORITY TO BORROW MONEY

Texas · Texas Insurance Code · Status: effective

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Tex. Insurance Code § 912.054, AUTHORITY TO BORROW MONEY, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/680408
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(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. (b) The board may pledge as security for a loan the assets of the company, including the contingent liability of its policyholders.