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Texas Insurance Code - INS § 846.107. Receipt of Thing of Value;  Criminal Penalty

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

(a) A board member, officer, or employee of a multiple employer welfare arrangement may not, knowingly and intentionally, directly or indirectly:

(1) receive money or another valuable thing for negotiating, procuring, recommending, or aiding in:

(A) a purchase by or sale to the arrangement of property;  or

(B) a loan from the arrangement;  or

(2) be pecuniarily interested as a principal, coprincipal, agent, or beneficiary in a purchase, sale, or loan described by Subdivision (1).

(b) A person commits an offense if the person violates this section.  An offense under this subsection is a felony of the third degree.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 846.107. Receipt of Thing of Value;  Criminal Penalty - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-846-107/

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