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Tex. Ins. Code § 2502.056

MONETARY FORFEITURE

Known as the Texas Title Insurance Act

The act spans §§ 2501.001 to 2751.104 (197 sections).

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff

(a) A person who pays or receives a commission, rebate, discount, or other thing of value for soliciting or referring title insurance business in violation of Section 2502.051 is engaging in the unauthorized business of insurance.

(b) After notice and opportunity for hearing, a person who makes or receives a payment described by Subsection (a) is liable for a monetary forfeiture in an amount not less than the value of or more than three times the value of the payment.

(c) A monetary forfeiture under Subsection (b) is in addition to any other penalty provided by law.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.