Texas Insurance Code
§ 651.110 — LIMITATIONS ON CERTAIN INDUCEMENTS OR SHARING OF PROFITS AND FEES
IN § 651.110Title 5. PROTECTION OF CONSUMER INTERESTS · Part E. PREMIUM FINANCING · Ch. 651. FINANCING OF INSURANCE PREMIUMS · Art. C. REGULATION OF INSURANCE PREMIUM
Statute text
View on source(a)This section applies to:
(1)an insurance premium finance company;
(2)an insurance agent;
(3)a premium finance agreement servicer; or
(4)an affiliate, employee, agent, or other representative of an insurance premium finance company or a premium finance agreement servicer. (a-1) A person, partnership, or other entity described by Subsection (a) and involved in transactions related to the financing of insurance premiums may not:
(1)directly or indirectly pay, allow, give, or offer to pay, allow, or give in any manner to an insurance agent or an employee of an insurance agent any consideration, compensation, or inducement for soliciting, accepting an application for, delivering, or administering premium finance agreements;
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Legislative history
Acts 2005, 79th Leg., Ch. 757 (H.B. 2965), Sec. 4, eff. June 17, 2005.