Texas Insurance Code 83.104 – Imposition of Administrative Penalty; Restitution
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(a) After a hearing, if the commissioner determines that an order has been violated, the commissioner may:
(1) impose an administrative penalty of $25,000 for each act of violation;
(2) direct the person against whom the order was issued to make complete restitution to each Texas resident, Texas insured, and entity operating in this state that is harmed by the violation; or
(3) impose the penalty and direct restitution.
(b) A person directed to make restitution shall make the restitution in the form and amount and within the period determined by the commissioner.
Terms Used In Texas Insurance Code 83.104
- 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
- Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.