Tex.
Ins. Code Section 2651.011
Privileged Communications; Financial Information
(a)
Any information, including a document, record, or statement, and including information provided to or received from the commissioner under Subsection (b) or (c), or any other information required or permitted to be made or disclosed to or by the department under this subchapter, other than Section 2651.001 (License and Bond or Deposit Required), is not public information subject to Chapter 552 (Public Information), Government Code, except to the extent described by Subsection (b), and is a privileged communication and may not be disclosed to the public except as evidence in an administrative hearing or proceeding. This subsection does not apply to a document, record, or statement required to be made or disclosed to the department under Chapter 36 (Department Rules and Procedures).(b)
A title insurance company may provide information to the commissioner about a financial matter that would reasonably call into question the solvency of a title agent that the title insurance company appointed. Each title insurance company shall provide annually to the department a list of officers authorized to provide to the department the information under this subsection. Information provided under this subsection is not subject to Chapter 552 (Public Information), Government Code, except that the commissioner may release information that the commissioner received under this subsection to a title insurance company that has appointed, or that is considering appointing, the title agent. The commissioner may also release information that the commissioner received under this subsection to a title agent under Section 2651.206 (Examination Reports), Insurance Code, if the information is evidence on which an audit report or examination report relies. A title insurance company that receives information under this subsection may not release the information except under a subpoena issued by a court of competent jurisdiction.(c)
Each title insurance agent shall provide the department, on a quarterly basis, with a copy of the agent’s quarterly withholding tax report furnished by the agent to the United States Internal Revenue Service. The title insurance agent must also provide to the department proof of the payment of the tax. An agent that does not have employees shall certify to the department on a quarterly basis that there has not been a material change in the agent’s financial condition.(d)
The commissioner by rule may prescribe the types of information under Subsections (b) and (c) that are privileged under Subsection (a).
Source:
Section 2651.011 — Privileged Communications; Financial Information, https://statutes.capitol.texas.gov/Docs/IN/htm/IN.2651.htm#2651.011 (accessed Jun. 5, 2024).
