Tex. Ins. Code Section 1114.102
Additional Sanctions

(a)

In addition to sanctions and penalties under Chapter 541 (Unfair Methods of Competition and Unfair or Deceptive Acts or Practices) as provided by Section 1114.101 (Unfair Method of Competition; Sanctions and Penalties), an insurer or agent that violates this chapter is subject to sanctions as provided by Chapter 82 (Sanctions), which may include:

(1)

the revocation or suspension of the agent’s license or the insurer’s certificate of authority;

(2)

administrative penalties under Chapter 84 (Administrative Penalties); and

(3)

forfeiture of any commissions or other compensation paid to an agent as a result of the transaction in connection with which the violations occurred.

(b)

In addition, if the commissioner has determined that the violations of this chapter were material to the sale, the insurer may be required to:

(1)

make restitution in the manner provided by Section 82.053 (Restitution);

(2)

restore policy or contract values; and

(3)

pay interest at the rate set by Section 84.050 (Remittance of Penalty and Interest) on the amount refunded in cash.
Added by Acts 2007, 80th Leg., R.S., Ch. 904 (H.B. 2762), Sec. 1, eff. September 1, 2007.

Source: Section 1114.102 — Additional Sanctions, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­1114.­htm#1114.­102 (accessed Jun. 5, 2024).

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Accessed:
Jun. 5, 2024

§ 1114.102’s source at texas​.gov