Texas Insurance Code 882.702 – Investment and Deposit of Funds; Criminal Penalty
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(a) A person commits an offense if the person is an officer or director of a mutual life insurance company and the person knowingly or wilfully violates or assents to the violation of § 882.252.
(b) An offense under this section is punishable by imprisonment in the Texas Department of Criminal Justice for a term of not more than five years or less than one year.
Terms Used In Texas Insurance Code 882.702
- Justice: when applied to a magistrate, means justice of the peace. See Texas Government Code 312.011
- 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
- Year: means 12 consecutive months. See Texas Government Code 311.005