Texas Insurance Code - Section 33.002. Insurance Business Interest; Service As Commissioner
Legal Research Home >
Texas Lawyer > Insurance Code > Texas Insurance Code - Section 33.002. Insurance Business Interest; Service As Commissioner
§ 33.002. INSURANCE BUSINESS INTEREST; SERVICE AS
COMMISSIONER. (a) A person is not eligible for appointment as
commissioner if the person, the person's spouse, or any other
person who resides in the same household as the person:
(1) is registered, certified, or licensed by the
department;
(2) is employed by or participates in the management
of a business entity or other organization regulated by or
receiving funds from the department;
(3) owns or controls, directly or indirectly, more
than a 10 percent interest in a business entity or other
organization regulated by or receiving funds from the department;
or
(4) uses or receives a substantial amount of tangible
goods, services, or funds from the department, other than
compensation or reimbursement authorized by law.
(b) A person is not eligible for appointment as commissioner
if the person:
(1) is a stockholder, director, officer, attorney,
agent, or employee of an insurance company, insurance agent,
insurance broker, or insurance adjuster; or
(2) is directly or indirectly interested in a business
described by Subdivision (1).
(c) Subsection (b) does not apply to:
(1) a person solely because the person is insured by an
insurer or is the beneficiary of insurance; or
(2) a person who:
(A) is appointed as a receiver, liquidator,
supervisor, or conservator of an insurer; or
(B) is an employee of a receiver, liquidator,
supervisor, or conservator of an insurer with respect to duties
under that employment.
Added by Acts 1999, 76th Leg., ch. 101, § 1, eff. Sept. 1, 1999.
Section: 32.002 32.003 32.021 32.022 32.023 32.041 33.001 33.002 33.003 33.004 33.005 33.006 33.007 34.001 34.002
Last modified: August 11, 2007
|
