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Tex. Insurance Code § 887.703

APPROPRIATION OF MONEY; CRIMINAL PENALTY

Texas · Texas Insurance Code · Status: effective

Criminal Law
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Tex. Insurance Code § 887.703, APPROPRIATION OF MONEY; CRIMINAL PENALTY, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/680317
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(a) An officer or employee of a mutual accident insurance company commits an offense if the person uses or appropriates, or knowingly permits the use or appropriation by another of, any money belonging to the company in a manner not provided for by the law authorizing the organization of the company. (b) An offense under this section is punishable by imprisonment in the Texas Department of Criminal Justice for a term of not more than 10 years or less than 2 years.