Texas Statutes (Last Updated: January 4, 2014) |
INSURANCE CODE |
Title 11. TITLE INSURANCE |
Subtitle B. ORGANIZATION OF TITLE INSURANCE COMPANIES |
Chapter 2552. ATTORNEY'S TITLE INSURANCE COMPANIES AND TITLE ATTORNEYS |
Subchapter F. AUDIT AND EXAMINATION REQUIREMENTS RELATING TO TRUST FUND ACCOUNTS |
Sec. 2552.254. ENFORCEMENT; HEARING
Latest version.
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(a) After notice and hearing, the department may revoke the license of a title attorney who:
(1) fails to furnish an annual audit report within the time required by Section 2552.251; or
(2) furnishes an audit report that reveals any irregularity, including a shortage, or any practice not in keeping with sound, honest business practices.
(b) The notice must be provided to the title attorney and the attorney's title insurance company represented by the title attorney.
(c) At a hearing under this section, the title attorney and the attorney's title insurance company may offer evidence explaining or excusing a failure or irregularity.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.