Texas Insurance Code 2551.352 – Revocation of Permit and Forfeiture of Charter
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(a) A domestic corporation engaged in the business of title insurance that violates this title is subject to:
(1) revocation by the commissioner of the corporation’s permit; and
(2) forfeiture of the corporation’s charter.
(b) A foreign corporation engaged in the business of title insurance that violates this title is subject to revocation by the commissioner of the corporation’s permit.
Terms Used In Texas Insurance Code 2551.352
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.