Texas Insurance Code
§ 841.260 — PROHIBITED COMMISSIONS
IN § 841.260Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part C. LIFE, HEALTH, AND ACCIDENT INSURERS AND RELATED ENTITIES · Ch. 841. LIFE, HEALTH, OR ACCIDENT INSURANCE COMPANIES · Art. F. GENERAL POWERS, DUTIES, AND LIMITATIONS
Statute text
View on source(a)In this section, "contingent compensation" means a commission or other compensation an insurance company pays to a person that is contingent on:
(1)the writing or procurement of an insurance policy in the company;
(2)the procurement of an application for an insurance policy in the company;
(3)the payment of a renewal premium; or
(4)the assumption of an insurance risk by the company.
(b)A life insurance company that engages in the business of insurance in this state may not, directly or indirectly, pay or contract to pay a contingent compensation to:
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Legislative history
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.