Tex. Insurance Code § 887.701
This is the official text of Tex. Insurance Code § 887.701, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 887.701. UNLAWFUL CONVERSION; CRIMINAL PENALTY.
Official statutory text
(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.
(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.
Status: in_force · Read it on the official government site
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