2021 Texas Statutes
Title 5 - Protection of Consumer Interests
Subtitle C - Deceptive, Unfair, and Prohibited Practices
Chapter 543 - Prohibited Practices Related to Policy or Certificate of Membership
Subchapter A. Prohibitions
Section 543.003. Thing of Value Not Specified in Policy
Sec. 543.003. THING OF VALUE NOT SPECIFIED IN POLICY. An insurer or an officer, agent, or representative of an insurer may not:
(1) directly or indirectly pay, allow, or give or offer to pay, allow, or give as an inducement to insurance a thing of value or other inducement that is not specified in the policy, including:
(A) a rebate of premium payable on the policy;
(B) a special favor or advantage in the dividends or other benefits to accrue on the policy; or
(C) paid employment or a contract for service; or
(2) give, sell, or purchase or offer to give, sell, or purchase as an inducement to insurance or in connection with insurance a thing of value that is not specified in the policy, including:
(A) stocks, bonds, or other securities of an insurer or other corporation, association, or partnership; or
(B) dividends or profits to accrue on the stocks, bonds, or other securities of an insurer or other corporation, association, or partnership.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.