1. (a) This section applies only to an insurer's misrepresentation of:

   1. (1) the insurer's financial condition;
   2. (2) the terms of an existing or future contract;
   3. (3) the benefits or advantages promised by an existing or future contract; or
   4. (4) the dividends or share of surplus to be received on an existing or future contract.

2. (b) An unauthorized alien or foreign insurer may not:

   1. (1) make, issue, circulate, or cause to be made, issued, or circulated to a resident of this state a misrepresentation in an advertisement, estimate, illustration, circular, pamphlet, or letter that violates Chapter 541; or
   2. (2) cause to be made to a resident of this state in a newspaper, magazine, or other publication, or over a radio or television station, a misrepresentation in an announcement or statement that violates Chapter 541.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.