(a) An attorney in fact commits an offense if the attorney in fact:
- (1) exchanges a reciprocal or interinsurance contract without first complying with the law governing the contract; or
- (2) directly or indirectly solicits or negotiates an application for the contract without first complying with the law governing the contract.
- (b) Subsection (a) does not apply to an action taken by an attorney in fact for the purpose of applying for a certificate of authority from the commissioner as provided by this chapter.
- (c) An offense under this section is punishable by a fine of not less than $100 or more than $1,000.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.