Sec. 2502.056. MONETARY FORFEITURE. (a) A person who pays or receives a commission, rebate, discount, or other thing of value for soliciting or referring title insurance business in violation of Section 2502.051 is engaging in the unauthorized business of insurance.
(b) After notice and opportunity for hearing, a person who makes or receives a payment described by Subsection (a) is liable for a monetary forfeiture in an amount not less than the value of or more than three times the value of the payment.
(c) A monetary forfeiture under Subsection (b) is in addition to any other penalty provided by law.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.
Section: Previous 2502.001 2502.002 2502.003 2502.004 2502.005 2502.006 2502.051 2502.052 2502.053 2502.054 2502.055 2502.056Last modified: September 28, 2016