{"data":{"id":"us-tx/tex.-insurance-code-1111a.004","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 1111A.004","heading":"LICENSE SUSPENSION, REVOCATION, OR REFUSAL TO RENEW.","body":"(a) The commissioner may suspend, revoke, or refuse to renew the license of a license holder if the commissioner finds that:\n(1) there was a material misrepresentation in the application for the license;\n(2) the license holder or an officer, partner, member, or director of the license holder has been guilty of fraudulent or dishonest practices, is subject to a final administrative action, or is otherwise shown to be untrustworthy or incompetent to act as a license holder;\n(3) the license holder is a provider and demonstrates a pattern of unreasonably withholding payments to policy owners;\n(4) the license holder no longer meets the requirements for initial licensure;\n(5) the license holder or any officer, partner, member, or director of the license holder has been convicted of a felony, or of any misdemeanor with respect to which criminal fraud is an element, or has pleaded guilty or nolo contendere with respect to a felony or a misdemeanor with respect to which criminal fraud or moral turpitude is an element, regardless of whether a judgment of conviction has been entered by the court;\n(6) the license holder is a provider and has entered into a life settlement contract using a form that has not been approved under this chapter;\n(7) the license holder is a provider and has failed to honor contractual obligations in a life settlement contract;\n(8) the license holder is a provider and has assigned, transferred, or pledged a settled policy to a person other than a provider licensed in this state, a purchaser, an accredited investor or qualified institutional buyer as defined respectively in 17 C.F.R. Section 230.144A, as amended, a financing entity, a special purpose entity, or a related provider trust; or\n(9) the license holder or any officer, partner, member, or key management personnel of the license holder has violated this chapter.\n(b) The commissioner may deny a license application or suspend, revoke, or refuse to renew the license of a license holder in accordance with Chapter 2001, Government Code.\nAdded by Acts 2011, 82nd Leg., R.S., Ch. 1156 (H.B. 2277), Sec. 3, eff. September 1, 2011.","path":["INSURANCE CODE","TITLE 7. LIFE INSURANCE AND ANNUITIES","SUBTITLE A. LIFE INSURANCE IN GENERAL","CHAPTER 1111A. LIFE SETTLEMENT CONTRACTS"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.1111A.htm#1111A.004","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"6b7da27bdc501f26a8c04619334a06e301ef9b7f88906e3e3dd14beadd95f98c","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-1111a.003","next":"us-tx/tex.-insurance-code-1111a.005"},"notice":"GroundRules: Original legal text. Not legal advice."}