{"data":{"id":"us-tx/tex.-insurance-code-462.058","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 462.058","heading":"CONFLICT OF INTEREST.","body":"(a) A director of the association or a member insurer or other entity represented by the director may not receive money or another valuable thing directly, indirectly, or through any substantial interest in any other corporation, firm, or business unit for negotiating, procuring, participating in, recommending, or aiding in a reinsurance agreement, merger, or other transaction, including the purchase, sale, or exchange of assets, insurance policies, or property made by the association or the supervisor, conservator, or receiver on behalf of an impaired insurer.\n(b) The director, member insurer, or entity may not be pecuniarily or contractually interested, as principal, coprincipal, agent, or beneficiary, directly, indirectly, or through any substantial interest in any other corporation, firm, or business unit, in the reinsurance agreement, merger, purchase, sale, exchange, or other transaction.\nAdded by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.","path":["INSURANCE CODE","TITLE 4. REGULATION OF SOLVENCY","SUBTITLE D. GUARANTY ASSOCIATIONS","CHAPTER 462. TEXAS PROPERTY AND CASUALTY INSURANCE GUARANTY ASSOCIATION","SUBCHAPTER B. GOVERNANCE OF ASSOCIATION"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.462.htm#462.058","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"c0b53d87bd87e7eb0a2ad17e37f5d31c27b1af480cc512a7f6bca43746948c16","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-462.057","next":"us-tx/tex.-insurance-code-462.059"},"notice":"GroundRules: Original legal text. Not legal advice."}