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Texas Insurance Code - INS § 2502.053. Certain Compensatory Payments Not Prohibited

Current as of January 01, 2024 | Updated by Findlaw Staff

This subchapter does not prohibit:

(1) payment for services actually performed by a title insurance company, title insurance agent, or direct operation in connection with title examination or with closing the transaction or furnishing title evidence if:

(A) the payment does not exceed the percentage of premium or other amount established by the commissioner for the payment; and

(B) the person receiving the payment is licensed as provided by this title;

(2) payment of bona fide compensation to a bona fide employee principally employed by a title insurance company, title insurance agent, or direct operation;

(3) reasonable payment for goods or facilities actually provided and received; or

(4) payment for services actually performed by an attorney in connection with title examination or with closing the transaction, if the payment does not exceed a reasonable charge for the services.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 2502.053. Certain Compensatory Payments Not Prohibited - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-2502-053/

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