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Texas Insurance Code - INS § 4152.301. 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 license holder under Subchapter C, Chapter 4005,  1 if the department determines that the applicant or license holder, or a person who would be authorized to act on behalf of the applicant or license holder under Section 4152.057, has:

(1) wilfully violated or participated in the violation of this chapter or another insurance law of this state;

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

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

(4) misappropriated, converted to the person's own use, or illegally withheld money required to be held in a fiduciary capacity;

(5) materially misrepresented the terms or effect of any contract of insurance or reinsurance, or engaged in any fraudulent transaction;  or

(6) been convicted of a felony or of a misdemeanor of which criminal fraud is an essential element.

1  V.T.C.A., Insurance Code § 4005.101 et seq.
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Cite this article: FindLaw.com - Texas Insurance Code - INS § 4152.301. Grounds for License Denial or Disciplinary Action - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-4152-301/

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