Sec. 823.502. OFFENSE OF SUBSCRIBING TO OR MAKING FALSE STATEMENT. (a) A person commits an offense if the person is an officer, director, or employee of a domestic insurer or the insurer's insurance holding company system and wilfully and knowingly subscribes to or makes or causes to be made a false statement on a written instrument required to be filed with the commissioner.
(b) An offense under Subsection (a) is a felony punishable by:
(1) imprisonment for a term of not less than two years;
(2) a fine not to exceed $10,000 for each violation; or
(3) both fine and imprisonment under this subsection.
(c) A person on whom a fine is imposed under this section shall pay the fine in that person's individual capacity.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Section: Previous 823.354 823.355 823.401 823.402 823.403 823.451 823.452 823.453 823.454 823.455 823.456 823.457 823.458 823.501 823.502Last modified: September 28, 2016