Sec. 4005.153. EMBEZZLEMENT OR CONVERSION BY AGENT; CRIMINAL PENALTY. (a) A person commits an offense if the person, as an agent for an insurer lawfully engaged in the business of insurance in this state, collects premiums or otherwise receives money or a substitute for money, and the person:
(1) embezzles, fraudulently converts, or appropriates to the person's own use the money or substitute for money; or
(2) with intent to embezzle and contrary to the instructions of or without the consent of the insurer, takes, secretes, or otherwise disposes of or fraudulently withholds, appropriates, lends, invests, or otherwise uses or applies, any money or substitute for money received by the person in the person's capacity as agent or broker.
(b) A person who commits an offense under this section shall be punished as if the person had stolen the money or substitute for money.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
Structure Texas Statutes
Title 13 - Regulation of Professionals
Subtitle A - General Provisions
Chapter 4005 - Conduct, Disciplinary Actions, and Sanctions
Subchapter D. Criminal Penalties
Section 4005.151. Acting as Agent After License Suspension or Revocation; Criminal Penalty
Section 4005.153. Embezzlement or Conversion by Agent; Criminal Penalty