Sec. 2502.005. CIVIL PENALTY. (a) A person is liable to the state for a civil penalty of not more than $5,000 if the person:
(1) wilfully violates Section 2502.003 or 2502.004; or
(2) violates an order of the commissioner refusing to approve an application to issue a binder for title insurance or a title insurance policy prohibited by Section 2502.003(a).
(b) The department may bring an action in a Travis County district court to recover the penalty provided by this section.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.
Structure Texas Statutes
Subtitle A - General Provisions
Chapter 2502 - Prohibited Conduct
Subchapter A. Prohibited Conduct in General
Section 2502.001. Engaging in Certain Insurance Business Prohibited
Section 2502.002. Coverage for Unmarketability of Title Prohibited
Section 2502.003. Insuring Around Defined; Prohibitions and Exceptions
Section 2502.004. Guarantee of Mortgage Payment Prohibited
Section 2502.005. Civil Penalty
Section 2502.006. Certain Extra Hazardous Coverages Prohibited