2022 Texas Statutes
Insurance Code
Title 5 - Protection of Consumer Interests
Subtitle G - Regulation of Insurer Market Conduct
Chapter 751 - Market Conduct Surveillance
Subchapter G. Market Conduct Surveillance Personnel
Section 751.302. Conflict of Interest

Universal Citation: TX Ins Code § 751.302 (2022)

Sec. 751.302. CONFLICT OF INTEREST. (a) An individual who is a member of the market conduct surveillance personnel has a conflict of interest, either directly or indirectly, if the individual is affiliated with the management of, has been employed by, or owns a pecuniary interest in an insurer subject to an examination conducted under this chapter.

(b) This section may not be construed to automatically preclude the individual from being:

(1) a policyholder or claimant under an insurance policy;

(2) a grantee of a mortgage or similar instrument on the individual's residence from a regulated entity if done under customary terms and in the ordinary course of business;

(3) an investment owner in shares of regulated diversified investment companies; or

(4) a settlor or beneficiary of a blind trust into which any otherwise permissible holdings have been placed.

Added by Acts 2005, 79th Leg., Ch. 291 (S.B. 14), Sec. 3, eff. September 1, 2005.

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