Texas Finance Code 155.007 – Criminal Penalty
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(a) An officer or agent of a domestic or foreign corporation or company doing business in this state as a bond investment company commits an offense if:
(1) the officer or agent attempts to:
(A) place or sell shares; or
(B) transact any business on behalf of the company; and
(2) the bond investment company has not complied with the deposit requirements of this chapter.
(b) An offense under this section is punishable by:
(1) confinement in jail for a term of not more than six months or less than 30 days;
(2) a fine of not more than $1,000 or less than $100; or
(3) both the fine and confinement.
Terms Used In Texas Finance Code 155.007
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.