Sec. 4005.153. EMBEZZLEMENT OR CONVERSION BY AGENT; CRIMINAL PENALTY. (a) A person commits an offense if the person, as an agent for an insurer lawfully engaged in the business of insurance in this state, collects premiums or otherwise receives money or a substitute for money, and the person:
(1) embezzles, fraudulently converts, or appropriates to the person's own use the money or substitute for money; or
(2) with intent to embezzle and contrary to the instructions of or without the consent of the insurer, takes, secretes, or otherwise disposes of or fraudulently withholds, appropriates, lends, invests, or otherwise uses or applies, any money or substitute for money received by the person in the person's capacity as agent or broker.
(b) A person who commits an offense under this section shall be punished as if the person had stolen the money or substitute for money.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
Section: Previous 4005.053 4005.054 4005.055 4005.101 4005.102 4005.103 4005.104 4005.105 4005.106 4005.107 4005.108 4005.109 4005.110 4005.151 4005.152Last modified: September 28, 2016