Sec. 846.107. RECEIPT OF THING OF VALUE; CRIMINAL PENALTY. (a) A board member, officer, or employee of a multiple employer welfare arrangement may not, knowingly and intentionally, directly or indirectly:
(1) receive money or another valuable thing for negotiating, procuring, recommending, or aiding in:
(A) a purchase by or sale to the arrangement of property; or
(B) a loan from the arrangement; or
(2) be pecuniarily interested as a principal, coprincipal, agent, or beneficiary in a purchase, sale, or loan described by Subdivision (1).
(b) A person commits an offense if the person violates this section. An offense under this subsection is a felony of the third degree.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Last modified: September 28, 2016