1. (a) A board member, officer, or employee of a multiple employer welfare arrangement may not, knowingly and intentionally, directly or indirectly:

   1. (1) receive money or another valuable thing for negotiating, procuring, recommending, or aiding in:

      1. (A) a purchase by or sale to the arrangement of property; or
      2. (B) a loan from the arrangement; or
   2. (2) be pecuniarily interested as a principal, coprincipal, agent, or beneficiary in a purchase, sale, or loan described by Subdivision (1).
2. (b) A person commits an offense if the person violates this section. An offense under this subsection is a felony of the third degree.

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.