Sec. 424.053.  LIMITATION AS TO SINGLE ISSUER OR BORROWER.  (a)  Notwithstanding Sections 424.051, 424.056-424.071, and 424.074, the aggregate amount of an insurer's investments in all or any type of securities, loans, obligations, or evidences of indebtedness of a single issuer or borrower, other than investments described by Subsection (c), may not exceed five percent of the insurer's total assets.
(b)  For purposes of this section, a single issuer or borrower includes:
(1)  the issuer's or borrower's majority-owned subsidiaries;
(2)  the issuer's or borrower's parent; or
(3)  the majority-owned subsidiaries of the issuer's or borrower's parent.
(c)  This section does not apply to:
(1)  an authorized investment that:
(A)  is a direct obligation of or guaranteed by the full faith and credit of the United States, this state, or a political subdivision of this state; or
(B)  is insured by an agency of the United States or this state; or
(2)  an investment described by Section 424.061 or 424.063.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.