An individual may not serve on the governing committee as a public member if the individual, another individual related to that individual within the second degree by consanguinity or affinity, or another individual residing in the same household with that individual:
(1) is required to be registered or licensed under this code or another insurance law of this state;
(2) is employed by or acts as a consultant to a person required to be registered or licensed or required to hold a certificate of authority under this code or another insurance law of this state;
(3) is the owner of, has a financial interest in, or participates in the management of an organization required to be registered or licensed or required to hold a certificate of authority under this code or another insurance law of this state;
(4) is an officer, employer, or consultant of an association in the field of insurance; or
(5) is required to register as a lobbyist under Chapter 305, Government Code.