(a) A director, officer, agent, employee, attorney at law, or attorney in fact of a county mutual insurance company commits an offense if the person fraudulently takes or converts to the person’s own use or secretes with the intent to take or convert to the person’s own use, and with knowledge that the person is not entitled to receive it, any property or other thing of value of the company that is in the person’s custody, control, or possession as a result of the person’s office, directorship, agency, or employment or in any other manner.
(b) A director, officer, agent, employee, attorney at law, or attorney in fact of a county mutual insurance company commits an offense if the person pays or delivers property or another thing of value described by Subsection (a) to another person knowing that the person is not entitled to receive it.

(c) An offense under this section is punishable by imprisonment in the Texas Department of Criminal Justice for a term of not more than 10 years or less than 2 years.