Sec. 541.055. FALSE FINANCIAL STATEMENT. (a) It is an unfair method of competition or an unfair or deceptive act or practice in the business of insurance to, with intent to deceive:
(1) file with a supervisory or other public official a false statement of financial condition of an insurer; or
(2) make, publish, disseminate, circulate, deliver to any person, or place before the public or directly or indirectly cause to be made, published, disseminated, circulated, delivered to any person, or placed before the public a false statement of financial condition of an insurer.
(b) It is an unfair method of competition or an unfair or deceptive act or practice in the business of insurance to make a false entry in an insurer's book, report, or statement or wilfully omit to make a true entry of a material fact relating to the insurer's business in the insurer's book, report, or statement with intent to deceive:
(1) an agent or examiner lawfully appointed to examine the insurer's condition or affairs; or
(2) a public official to whom the insurer is required by law to report or who has authority by law to examine the insurer's condition or affairs.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.
Section: Previous 541.006 541.007 541.008 541.051 541.052 541.053 541.054 541.055 541.056 541.057 541.058 541.059 541.060 541.061 541.082 NextLast modified: September 28, 2016