The attached mandatory call is being issued pursuant to Article 1.24 of the Texas Insurance Code. This information will be the basis for a report required under Article 3.33, Section 3A of the Texas Insurance Code, which requires the department to present a report to the Legislature on the industry's community investments in Texas.
All life and health insurers with $10 million or more of written premium in Texas in 1997 are required to provide information on Texas only investments in real estate, commercial mortgages, residential mortgages and development bonds. As the department believes there is particular public interest in investments that benefit economically disadvantaged areas, companies are strongly encouraged to provide information on investments meeting the Defined Regions criteria outlined in the Instructions section of this data call. Reporting on investments in Texas through federal agencies such as FHA, Texas corporate stocks and bonds, deposits in Texas financial institutions, and contributions and other social investment programs is optional. This call covers the 1997 calendar year and must be completed and returned in accordance with instructions by not later than November 16, 1998.
For additional information on this data call, contact Karen Ranspot at 512-475-3022.
If your company would like to participate in a Working Group to review the survey format prior to the second report to the Legislature (December 2000) or would like to provide comments or recommendations on the data call format, please send the information to:
Texas Department of Insurance
Community Investment Report Working Group
c/o Karen Ranspot, MC 105-5G
P. O. Box 149104
Austin, TX 78714-9104
Failure to comply with the requirements of this call within the time limits specified may constitute a violation or violations of Texas Insurance Code and may subject the insurer to the penalties provided by law.
_____________________________C. H. Mah
Associate Commissioner
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