Texas § 4005.153 EMBEZZLEMENT OR CONVERSION BY AGENT; CRIMINAL PENALTY.

Texas Statutes

§ 4005.153 — EMBEZZLEMENT OR CONVERSION BY AGENT; CRIMINAL PENALTY.

Texas § 4005.153

Code INInsurance Code

This text of Texas § 4005.153 (EMBEZZLEMENT OR CONVERSION BY AGENT; CRIMINAL PENALTY.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Insurance Code Code Ann. § 4005.153 (2026).

Text

Sec. 4005.153. EMBEZZLEMENT OR CONVERSION BY AGENT; CRIMINAL PENALTY.

(a)A person commits an offense if the person, as an agent for an insurer lawfully engaged in the business of insurance in this state, collects premiums or otherwise receives money or a substitute for money, and the person:

(1)embezzles, fraudulently converts, or appropriates to the person's own use the money or substitute for money; or

(2)with intent to embezzle and contrary to the instructions of or without the consent of the insurer, takes, secretes, or otherwise disposes of or fraudulently withholds, appropriates, lends, invests, or otherwise uses or applies, any money or substitute for money received by the person in the person's capacity as agent or broker.

(b)A person who commits an offense under this section s

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Sec. 4005.153. EMBEZZLEMENT OR CONVERSION BY AGENT; CRIMINAL PENALTY. (a) A person commits an offense if the person, as an agent for an insurer lawfully engaged in the business of insurance in this state, collects premiums or otherwise receives money or a substitute for money, and the person:
(1) embezzles, fraudulently converts, or appropriates to the person's own use the money or substitute for money; or
(2) with intent to embezzle and contrary to the instructions of or without the consent of the insurer, takes, secretes, or otherwise disposes of or fraudulently withholds, appropriates, lends, invests, or otherwise uses or applies, any money or substitute for money received by the person in the person's capacity as agent or broker.
(b) A person who commits an offense under this section shall be punished as if the person had stolen the money or substitute for money.