Texas § 841.259 ACTIVITIES OF DIRECTORS AND OFFICERS.

Texas Statutes

§ 841.259 — ACTIVITIES OF DIRECTORS AND OFFICERS.

Texas § 841.259

Code INInsurance Code

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Bluebook

Tex. Insurance Code Code Ann. § 841.259 (2026).

Text

Sec. 841.259. ACTIVITIES OF DIRECTORS AND OFFICERS.

(a)A director or officer of an insurance company may not:

(1)receive money or another valuable thing for negotiating, procuring, recommending, or aiding in a purchase or sale of property by or a loan from the company; or

(2)have a pecuniary interest, as a principal, coprincipal, agent, or beneficiary, in a purchase, sale, or loan described by Subdivision (1).

(b)This section does not prohibit:

(1)a life insurance company from making a loan to a policyholder in an amount that is not greater than the reserve value of the policy; or

(2)a transaction, purchase, sale, or loan approved by the commissioner under Subchapter A of Chapter 805 or Chapter 823 .

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Sec. 841.259. ACTIVITIES OF DIRECTORS AND OFFICERS. (a) A director or officer of an insurance company may not:
(1) receive money or another valuable thing for negotiating, procuring, recommending, or aiding in a purchase or sale of property by or a loan from the company; or
(2) have a pecuniary interest, as a principal, coprincipal, agent, or beneficiary, in a purchase, sale, or loan described by Subdivision (1).
(b) This section does not prohibit:
(1) a life insurance company from making a loan to a policyholder in an amount that is not greater than the reserve value of the policy; or
(2) a transaction, purchase, sale, or loan approved by the commissioner under Subchapter A of Chapter 805 or Chapter 823 .