Tex. Ins. Code § 823.454 · Subchapter J. CIVIL REMEDIES AND SANCTIONS
ADMINISTRATIVE PENALTY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A director or officer of an insurer or insurance holding company system that is subject to this chapter is subject to an administrative penalty under Chapter 84 if the director or officer knowingly and wilfully:
(1) participates in or assents to a transaction or an investment that has not been properly reported or submitted under this chapter;
(2) permits an officer, agent, or employee of the insurer or holding company system, as appropriate, to engage in a transaction or make an investment that has not been properly reported or submitted under this chapter; or
(3) violates this chapter.
(b) The amount of an administrative penalty under this section may not exceed $10,000 for each violation.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.823.htm
- Text hash
- sha256 ef29236e2b50ca51a65045007071bdfd1bb12534083f11dfe0931c05ecb0758c
- 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
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.