Tex. Ins. Code Section 1111A.018
Fraud Prevention and Control

(a)

A person may not commit a fraudulent life settlement act.

(b)

A person may not interfere with the enforcement of this chapter or an investigation of a suspected or actual violation of this chapter.

(c)

A person in the business of life settlements may not knowingly or intentionally permit a person convicted of a felony involving dishonesty or breach of trust to participate in the business of life settlements.

(d)

A life settlement contract and an application for a life settlement contract, regardless of the form of transmission, must contain the following, or a substantially similar, statement: “Any person who knowingly presents false information in an application for insurance or a life settlement contract is guilty of a crime and may be subject to fines and confinement in prison.”

(e)

The failure to include a statement as required in Subsection (d) is not a defense in any prosecution for a fraudulent life settlement act.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1156 (H.B. 2277), Sec. 3, eff. September 1, 2011.

Source: Section 1111A.018 — Fraud Prevention and Control, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­1111A.­htm#1111A.­018 (accessed May 11, 2024).

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Accessed:
May 11, 2024

§ 1111A.018’s source at texas​.gov