Texas Insurance Code

§ 1115.102 — SANCTIONS

IN § 1115.102Title 7. LIFE INSURANCE AND ANNUITIES · Part A. LIFE INSURANCE IN GENERAL · Ch. 1115. SUITABILITY OF CERTAIN ANNUITY TRANSACTIONS · Art. C. MITIGATION; ENFORCEMENT

Statute text

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(a)The commissioner may impose sanctions as provided by Chapter 82 for a violation of this chapter.

(b)The commissioner shall reduce or eliminate a sanction for a violation of this chapter otherwise applicable if:

(1)corrective action for the consumer was taken promptly by the agent or insurer after a violation was discovered; or

(2)the violation was not part of a pattern or practice. Added by Acts 2007, 80th Leg., R.S., Ch. 736 (H.B. 2761), Sec. 1, eff. September 1, 2007. Amended by:

Legislative history

Acts 2011, 82nd Leg., R.S., Ch. 1156 (H.B. 2277), Sec. 15, eff. September 1, 2011.