Sec. 823.502. OFFENSE OF SUBSCRIBING TO OR MAKING FALSE STATEMENT. (a) A person commits an offense if the person is an officer, director, or employee of a domestic insurer or the insurer's insurance holding company system and wilfully and knowingly subscribes to or makes or causes to be made a false statement on a written instrument required to be filed with the commissioner.
(b) An offense under Subsection (a) is a felony punishable by:
(1) imprisonment for a term of not less than two years;
(2) a fine not to exceed $10,000 for each violation; or
(3) both fine and imprisonment under this subsection.
(c) A person on whom a fine is imposed under this section shall pay the fine in that person's individual capacity.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Structure Texas Statutes