Tex. Insurance Code § 912.803
This is the official text of Tex. Insurance Code § 912.803, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 912.803. UNLAWFUL DIVERSION OF FUNDS; CRIMINAL PENALTY.
Official statutory text
(a) A director, officer, agent, employee, attorney at law, or attorney in fact of a county mutual insurance company commits an offense if the person wilfully borrows, withholds, or diverts from its purpose in any manner all or part of a special fund that:
(1) belongs to or is under the control and management of the company; and
(2) is designated by law for that purpose.
(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) belongs to or is under the control and management of the company; and
(2) is designated by law for that purpose.
(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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