Texas § 887.702 DIVERSION OF SPECIAL FUNDS; CRIMINAL PENALTY.

Texas Statutes

§ 887.702 — DIVERSION OF SPECIAL FUNDS; CRIMINAL PENALTY.

Texas § 887.702

Code INInsurance Code

This text of Texas § 887.702 (DIVERSION OF SPECIAL FUNDS; 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. § 887.702 (2026).

Text

Sec. 887.702. DIVERSION OF SPECIAL FUNDS; CRIMINAL PENALTY.

(a)A director, officer, agent, employee, attorney at law, or attorney in fact of an association commits an offense if the person wilfully borrows, withholds, or diverts from its purpose all or part of a special fund that:

(1)belongs to or is under the management and control of an association; and

(2)is designated by law or by rule of the commissioner for a specific use.

(b)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.

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Sec. 887.702. DIVERSION OF SPECIAL FUNDS; CRIMINAL PENALTY. (a) A director, officer, agent, employee, attorney at law, or attorney in fact of an association commits an offense if the person wilfully borrows, withholds, or diverts from its purpose all or part of a special fund that:
(1) belongs to or is under the management and control of an association; and
(2) is designated by law or by rule of the commissioner for a specific use.
(b) 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.

Legislative History

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003. Amended by: Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969 ), Sec. 25.124, eff. September 1, 2009.