2019 Texas Statutes
Insurance Code
Title 11 - Title Insurance
Subtitle A - General Provisions
Chapter 2502 - Prohibited Conduct
Subchapter B. Rebates and Discounts
Section 2502.053. Certain Compensatory Payments Not Prohibited
Sec. 2502.053. CERTAIN COMPENSATORY PAYMENTS NOT PROHIBITED. This subchapter does not prohibit:
(1) payment for services actually performed by a title insurance company, title insurance agent, or direct operation in connection with title examination or with closing the transaction or furnishing title evidence if:
(A) the payment does not exceed the percentage of premium or other amount established by the commissioner for the payment; and
(B) the person receiving the payment is licensed as provided by this title;
(2) payment of bona fide compensation to a bona fide employee principally employed by a title insurance company, title insurance agent, or direct operation;
(3) reasonable payment for goods or facilities actually provided and received; or
(4) payment for services actually performed by an attorney in connection with title examination or with closing the transaction, if the payment does not exceed a reasonable charge for the services.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.
