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Texas Statutes (Last Updated: January 4, 2014) |
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INSURANCE CODE |
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Title 13. REGULATION OF PROFESSIONALS |
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Subtitle C. ADJUSTERS |
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Chapter 4102. PUBLIC INSURANCE ADJUSTERS |
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Subchapter D. PROHIBITED CONDUCT |
Sec. 4102.158. CONFLICTS OF INTEREST PROHIBITED
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(a) A license holder may not:
(1) participate directly or indirectly in the reconstruction, repair, or restoration of damaged property that is the subject of a claim adjusted by the license holder; or
(2) engage in any other activities that may reasonably be construed as presenting a conflict of interest, including soliciting or accepting any remuneration from, or having a financial interest in, any salvage firm, repair firm, or other firm that obtains business in connection with any claim the license holder has a contract or agreement to adjust.
(b) A license holder may not, without the knowledge and consent of the insured in writing, acquire an interest in salvaged property that is the subject of a claim adjusted by the license holder.
(c) A license holder may not represent an insured on a claim or charge a fee to an insured while representing the insurance carrier against which the claim is made.