Tex. Ins. Code § 887.701 · Subchapter O. PENALTIES
UNLAWFUL CONVERSION; CRIMINAL PENALTY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A director, officer, agent, employee, attorney at law, or attorney in fact of an association commits an offense if the person:
(1) fraudulently takes, misapplies, or converts to the person's own use any money, property, or other item of value belonging to the association or coming into the person's custody, control, or possession by virtue of the person's office, agency, or employment;
(2) conceals any item described by Subdivision (1) with the intent to take, misapply, or convert the item to the person's own use; or
(3) pays or delivers any item described by Subdivision (1) to any other person, knowing that the other person is not entitled to receive the item.
(b) An offense under this section is punishable by imprisonment in the Texas Department of Criminal Justice for a term of not more than 10 years or less than 2 years.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 25.123, eff. September 1, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.887.htm
- Text hash
- sha256 800113432fe837dade04be766a5dea737c308a110de3ea49ceab1c48df23a21b
- 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
Provisions in this library whose text cites Tex. Ins. Code § 887.701. Each shows the citation as that text prints it.
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.