Texas Insurance Code 801.151 – Issuance of Certificate Prohibited
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Terms Used In Texas Insurance Code 801.151
- Fiduciary: A trustee, executor, or administrator.
Except as provided by Sections 801.153 and 801.154, the department may not issue a certificate of authority to an applicant if a corporate officer or member of the board of directors of the applicant has been convicted of a felony involving:
(1) moral turpitude; or
(2) breach of a fiduciary duty.