Tex. Insurance Code § 2502.056: MONETARY FORFEITURE.
Where this section sits in the code
- INSURANCE CODE
- TITLE 11. TITLE INSURANCE
- SUBTITLE A. GENERAL PROVISIONS
- CHAPTER 2502. PROHIBITED CONDUCT
- SUBCHAPTER B. REBATES AND DISCOUNTS
(a) A person who pays or receives a commission, rebate, discount, or other thing of value for soliciting or referring title insurance business in violation of Section 2502.051 is engaging in the unauthorized business of insurance.
(b) After notice and opportunity for hearing, a person who makes or receives a payment described by Subsection (a) is liable for a monetary forfeiture in an amount not less than the value of or more than three times the value of the payment.
(c) A monetary forfeiture under Subsection (b) is in addition to any other penalty provided by law.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.
Collected 2026-08-27T01:47:21Z. Source file · JSON