Texas Insurance Code
§ 823.501 — OFFENSE OF VIOLATING CHAPTER
IN § 823.501Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part B. ORGANIZATION OF REGULATED ENTITIES · Ch. 823. INSURANCE HOLDING COMPANY SYSTEMS · Art. K. CRIMINAL PENALTIES
Statute text
View on source(a)A person commits an offense if the person is an insurer or individual and wilfully violates this chapter.
(b)If the person is an insurer, an offense under Subsection (a) is a misdemeanor punishable by a fine not to exceed $50,000 for each violation.
(c)If the person is an individual, an offense under Subsection (a) is a misdemeanor punishable by a fine not to exceed $10,000 for each violation except as provided by Subsection (d) and Section 823.502.
(d)An offense under Subsection (a) is a felony if the person is an individual and the violation involves the deliberate perpetration of a fraud on the department, an insurer, an insurer's subsidiary, or policyholders. The felony is punishable by:
(1)imprisonment for a term not to exceed five years;
(2)a fine not to exceed $10,000 for each violation; or
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Legislative history
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.