Texas Insurance Code

§ 1115.0515 — CONFLICT OF INTEREST OBLIGATION

IN § 1115.0515Title 7. LIFE INSURANCE AND ANNUITIES · Part A. LIFE INSURANCE IN GENERAL · Ch. 1115. SUITABILITY OF CERTAIN ANNUITY TRANSACTIONS · Art. B. DUTIES OF INSURERS AND AGENTS

Statute text

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(a)An agent shall take reasonable steps to discover a material conflict of interest, including a material conflict of interest related to an ownership interest.

(b)An agent shall:

(1)identify and avoid a material conflict of interest; or

(2)reasonably manage and disclose the conflict.

Legislative history

Added by Acts 2021, 87th Leg., R.S., Ch. 262 (H.B. 1777), Sec. 9, eff. September 1, 2021.