Texas Insurance Code Title 5, Chapter 548 - Insurer Insider Trading And Proxy Regulation

SUBCHAPTER A GENERAL PROVISIONS

• Texas Section 548.001 - Purpose
  (a) The purpose of this chapter is to provide for protection of the public interest, investors, and shareholders of domestic stock insurers by: (1) regulating...
• Texas Section 548.002 - Definitions
  In this chapter: (1) "Domestic stock insurer" includes a domestic title insurance company regulated by Title 11 and a stipulated premium company regulated by Chapter...
• Texas Section 548.003 - Rulemaking Authority
  The commissioner may: (1) adopt rules necessary for the execution of the powers and duties of the department or commissioner under this subchapter and Subchapter...

SUBCHAPTER B REQUIRED ACTS; PROHIBITIONS

• Texas Section 548.004 - Rules Relating To Equity Securities And Exempt Securities
  (a) If the commissioner considers it necessary or appropriate in the public interest or for the protection of investors, the commissioner by rule may define:...
• Texas Section 548.101 - Definition
  In this subchapter, "insider" means a person who: (1) is directly or indirectly the beneficial owner of more than 10 percent of any class of...
• Texas Section 548.102 - Statement Of Beneficial Ownership Of Equity Securities
  (a) Not later than the 10th day after the date a person becomes an insider, the insider shall file with the department a statement of...
• Texas Section 548.103 - Recovery Of Certain Profits
  (a) The purpose of this section is to prevent the unfair use of information that may be obtained by an insider because of the insider's...
• Texas Section 548.104 - Sale Or Nondelivery Of Certain Equity Securities Prohibited
  (a) An insider may not directly or indirectly sell an equity security of the domestic stock insurer if the insider selling the security or the...
• Texas Section 548.105 - Certain Solicitations Prohibited; Disclosure By Insurer
  (a) A person, in violation of any rule adopted by the commissioner under this section, may not solicit or permit the use of the person's...

SUBCHAPTER C ENFORCEMENT

• Texas Section 548.106 - Nonapplicability Of Subchapter
  (a) This subchapter does not apply to an equity security of a domestic stock insurer if: (1) the security is or is required to be...
• Texas Section 548.201 - Offenses; Criminal Penalty
  (a) A person commits an offense if the person intentionally: (1) violates this chapter or a rule adopted under this chapter; or (2) makes or...
• Texas Section 548.202 - Civil Penalty
  (a) A person who wilfully violates this chapter or a rule adopted under this chapter is liable for a civil penalty of not less than...
• Texas Section 548.203 - Injunctive Action
  A suit to enjoin a violation or a threatened violation of this chapter may be brought in any district court in which an action for...

Last modified: September 28, 2016