Texas Insurance Code 823.502 – Offense of Subscribing to or Making False Statement
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(a) A person commits an offense if the person is an officer, director, or employee of a domestic insurer or the insurer’s insurance holding company system and wilfully and knowingly subscribes to or makes or causes to be made a false statement on a written instrument required to be filed with the commissioner.
(b) An offense under Subsection (a) is a felony punishable by:
(1) imprisonment for a term of not less than two years;
(2) a fine not to exceed $10,000 for each violation; or
(3) both fine and imprisonment under this subsection.
Terms Used In Texas Insurance Code 823.502
- 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
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
(c) A person on whom a fine is imposed under this section shall pay the fine in that person’s individual capacity.