Sec. 912.054. AUTHORITY TO BORROW MONEY. (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. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Authority To Borrow Money
Tex. Insurance Code § 912.054, under Chapter 912.
Tex. Insurance Code § 912.054