Tex. Ins. Code § 1111A.018 · Chapter 1111A. LIFE SETTLEMENT CONTRACTS
FRAUD PREVENTION AND CONTROL.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A person may not commit a fraudulent life settlement act.
(b) A person may not interfere with the enforcement of this chapter or an investigation of a suspected or actual violation of this chapter.
(c) A person in the business of life settlements may not knowingly or intentionally permit a person convicted of a felony involving dishonesty or breach of trust to participate in the business of life settlements.
(d) A life settlement contract and an application for a life settlement contract, regardless of the form of transmission, must contain the following, or a substantially similar, statement: "Any person who knowingly presents false information in an application for insurance or a life settlement contract is guilty of a crime and may be subject to fines and confinement in prison."
(e) The failure to include a statement as required in Subsection (d) is not a defense in any prosecution for a fraudulent life settlement act.
Notes and commentary — not statutory text
History
Added by Acts 2011, 82nd Leg., R.S., Ch. 1156 (H.B. 2277), Sec. 3, eff. September 1, 2011.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.1111A.htm
- Text hash
- sha256 96d2df8a8d3a8614e0609010968ce0c391ebfad5bef9d2218b1304f7a225d840
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Cited by 1 provision
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