Texas Insurance Code 501.053 – Business Interest; Service as Public Counsel
Current as of: 2024 | Check for updates
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Terms Used In Texas Insurance Code 501.053
- 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
A person is not eligible for appointment as public counsel if the person or the person’s spouse:
(1) is employed by or participates in the management of a business entity or other organization regulated by or receiving funds from the department;
(2) owns or controls, directly or indirectly, more than a 10 percent interest in a business entity or other organization regulated by or receiving funds from the department or the office; or
(3) uses or receives a substantial amount of tangible goods, services, or funds from the department or the office, other than compensation or reimbursement authorized by law for department or office membership, attendance, or expenses.