Texas Insurance Code 1111A.021 – Other Law Enforcement or Regulatory Authority
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Terms Used In Texas Insurance Code 1111A.021
- Fraud: Intentional deception resulting in injury to another.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
- Rule: includes regulation. See Texas Government Code 311.005
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
This chapter does not:
(1) preempt the authority or relieve the duty of another law enforcement or regulatory agency to investigate, examine, and prosecute a suspected violation of law;
(2) preempt, supersede, or limit any provision of any state securities law or any rule, order, or notice issued under the law;
(3) prevent or prohibit a person from disclosing voluntarily information concerning life settlement fraud to a law enforcement or regulatory agency other than the department; or
(4) limit the powers granted by the laws of this state to the commissioner or an insurance fraud unit to investigate and examine a possible violation of law and to take appropriate action against wrongdoers.