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Texas Insurance Code - INS § 2651.301. Grounds for License Denial or Disciplinary Action

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

The department may deny an application for a license or discipline a title insurance agent or direct operation under Sections 4005.102, 4005.103, and 4005.104 if the department determines that the applicant or license holder has:

(1) wilfully violated this title;

(2) intentionally made a material misstatement in the license application;

(3) obtained or attempted to obtain the license by fraud or misrepresentation;

(4) misappropriated or converted to the applicant's or license holder's own use or illegally withheld money belonging to a title insurance company, an insured, or another person;

(5) been guilty of fraudulent or dishonest practices;

(6) materially misrepresented the terms and conditions of a title insurance policy or contract;  or

(7) failed to maintain:

(A) a separate and distinct accounting of escrow funds;  and

(B) an escrow bank account or accounts separate and apart from all other accounts.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 2651.301. Grounds for License Denial or Disciplinary Action - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-2651-301/

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