Texas Statutes (Last Updated: January 4, 2014) |
INSURANCE CODE |
Title 5. PROTECTION OF CONSUMER INTERESTS |
Subtitle C. DECEPTIVE, UNFAIR, AND PROHIBITED PRACTICES |
Chapter 548. INSURER INSIDER TRADING AND PROXY REGULATION |
Subchapter C. ENFORCEMENT |
Sec. 548.202. CIVIL PENALTY
Latest version.
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(a) A person who wilfully violates this chapter or a rule adopted under this chapter is liable for a civil penalty of not less than $100 or more than $1,000 for:
(1) each act of violation; and
(2) each day of violation.
(b) The attorney general, at the request of the commissioner, shall bring a suit in the name of the state to recover the civil penalty. The suit must be brought:
(1) in Travis County or the county in which the person resides;
(2) if more than one person commits the violation, in the county in which any of the persons resides; or
(3) in the county in which the violation allegedly occurred.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.