Texas Insurance Code 2502.053 – Certain Compensatory Payments Not Prohibited
Terms Used In Texas Insurance Code 2502.053
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
This subchapter does not prohibit:
(1) payment for services actually performed by a title insurance company, title insurance agent, or direct operation in connection with title examination or with closing the transaction or furnishing title evidence if:
(A) the payment does not exceed the percentage of premium or other amount established by the commissioner for the payment; and
(B) the person receiving the payment is licensed as provided by this title;
(2) payment of bona fide compensation to a bona fide employee principally employed by a title insurance company, title insurance agent, or direct operation;
(3) reasonable payment for goods or facilities actually provided and received; or
(4) payment for services actually performed by an attorney in connection with title examination or with closing the transaction, if the payment does not exceed a reasonable charge for the services.