# Tex. Insurance Code § 425.007: SUBSCRIPTION TO OR UNDERWRITING PURCHASE OR SALE OF SECURITIES OR PROPERTY PROHIBITED; CONTROL OF DISPOSITION OF PROPERTY

> Texas · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C425_S425.007

## Section

- **Citation:** Tex. Insurance Code § 425.007
- **Heading:** SUBSCRIPTION TO OR UNDERWRITING PURCHASE OR SALE OF SECURITIES OR PROPERTY PROHIBITED; CONTROL OF DISPOSITION OF PROPERTY
- **Jurisdiction:** Texas
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** TX Code / Code in / Chapter 425 / Section 425.007

## Text

(a) A life insurance company organized under the laws of this state may not:

(1) subscribe to, or participate in, any underwriting of the purchase or sale of securities or property;

(2) enter into a transaction described by Subdivision (1) for a purpose described by Subdivision (1);

(3) sell on account of the company jointly with any other person, firm, or corporation; or

(4) enter into any agreement to withhold from sale any of the company's property.

(b) The disposition of the life insurance company's property must be at all times within the control of the company's board of directors.

## Nearby sections

- [Tex. Insurance Code § 425.001 § 425.001. SECURITIES IN AMOUNT OF RESERVES REQUIRED.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C425_S425.001.md)
- [Tex. Insurance Code § 425.002 § 425.002.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C425_S425.002.md)
- [Tex. Insurance Code § 425.003 § 425.003.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C425_S425.003.md)
- [Tex. Insurance Code § 425.004 § 425.004. RECORDS OF SECURITIES DEPOSITED WITH DEPARTMENT; REPORT OF VALUE.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C425_S425.004.md)
- [Tex. Insurance Code § 425.005 § 425.005. DEPARTMENT DUTIES REGARDING DEPOSITED SECURITIES; INSURANCE COMPANY ACCESS.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C425_S425.005.md)
- [Tex. Insurance Code § 425.006 § 425.006.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C425_S425.006.md)
- [Tex. Insurance Code § 425.007 § 425.007. SUBSCRIPTION TO OR UNDERWRITING PURCHASE OR SALE OF SECURITIES OR PROPERTY PROHIBITED; CONTROL OF DISPOSITION OF PROPERTY.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C425_S425.007.md)
- [Tex. Insurance Code § 425.008 § 425.008. AUTHORIZED INVESTMENTS FOR FOREIGN COMPANIES.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C425_S425.008.md)
- [Tex. Insurance Code § 425.009 § 425.009. STUDENT LOANS.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C425_S425.009.md)
- [Tex. Insurance Code § 425.051 § 425.051. SHORT TITLE.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C425_S425.051.md)
- [Tex. Insurance Code § 425.052 § 425.052. DEFINITIONS.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C425_S425.052.md)
- [Tex. Insurance Code § 425.053 § 425.053. ANNUAL VALUATION OF RESERVES FOR POLICIES AND CONTRACTS ISSUED BEFORE OPERATIVE DATE OF VALUATION MANUAL.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C425_S425.053.md)
- [Tex. Insurance Code § 425.054 § 425.054. ACTUARIAL OPINION OF RESERVES ISSUED BEFORE OPERATIVE DATE OF VALUATION MANUAL.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C425_S425.054.md)
- [Tex. Insurance Code § 425.055 § 425.055. SUPPORTING MEMORANDUM FOR ACTUARIAL OPINION.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C425_S425.055.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C425_S425.007. Check the current official text before relying on it. Not legal advice.