Tex.
Ins. Code Section 81.001
Limitations Period for Certain Disciplinary Actions
(a)
Except as provided by Subsection (b), the department or commissioner may not begin an action to impose a sanction, penalty, or fine, including an administrative penalty, against an insurer, agent, or other license holder who is subject to the jurisdiction of the department for conduct that is a violation of this code or another insurance law of this state after the earlier of:(1)
the fifth anniversary of the date on which the conduct that is a violation occurred; or(2)
the second anniversary of the earlier of:(A)
the date on which the conduct that is a violation is first discovered by the department; or(B)
the date on which the conduct that is a violation is made known to the department.(b)
The department or commissioner may not begin an action to impose a sanction, penalty, or fine, including an administrative penalty, against an insurer, agent, or other license holder who is subject to the jurisdiction of the department for conduct that is a violation of this code or another insurance law of this state and that involves fraud by the insurer, agent, or license holder after the fifth anniversary of the earlier of:(1)
the date on which the conduct that is a violation is first discovered by the department; or(2)
the date on which the conduct that is a violation is made known to the department.(c)
This section does not apply to conduct that is:(1)
a violation that is ongoing at the time the department seeks to impose the sanction, penalty, or fine;(2)
a violation of Subchapter A, Chapter 544 (Prohibited Discrimination), or Section 541.057 (Unfair Discrimination in Life Insurance and Annuity Contracts), as those provisions relate to discrimination on the basis of race or color, regardless of the time the conduct occurs; or(3)
a violation of Title 5, Labor Code.
Source:
Section 81.001 — Limitations Period for Certain Disciplinary Actions, https://statutes.capitol.texas.gov/Docs/IN/htm/IN.81.htm#81.001 (accessed Apr. 29, 2024).
