Texas Insurance Code

§ 801.151 — ISSUANCE OF CERTIFICATE PROHIBITED

IN § 801.151Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part A. GENERAL PROVISIONS APPLICABLE TO INSURERS AND RELATED ENTITIES · Ch. 801. CERTIFICATE OF AUTHORITY · Art. D. FELONY CONVICTION

Statute text

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Except as provided by Sections 801.153 and 801.154, the department may not issue a certificate of authority to an applicant if a corporate officer or member of the board of directors of the applicant has been convicted of a felony involving:

(1)moral turpitude; or

(2)breach of a fiduciary duty.

Legislative history

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.