Tex. Ins. Code Section 33.002
Insurance Business Interest; Service as Commissioner

(a)

A person is not eligible for appointment as commissioner if the person, the person’s spouse, or any other person who resides in the same household as the person:

(1)

is registered, certified, or licensed by the department;

(2)

is employed by or participates in the management of a business entity or other organization regulated by or receiving funds from the department;

(3)

owns or controls, directly or indirectly, more than a 10 percent interest in a business entity or other organization regulated by or receiving funds from the department; or

(4)

uses or receives a substantial amount of tangible goods, services, or funds from the department, other than compensation or reimbursement authorized by law.

(b)

A person is not eligible for appointment as commissioner if the person:

(1)

is a stockholder, director, officer, attorney, agent, or employee of an insurance company, insurance agent, insurance broker, or insurance adjuster; or

(2)

is directly or indirectly interested in a business described by Subdivision (1).

(c)

Subsection (b) does not apply to:

(1)

a person solely because the person is insured by an insurer or is the beneficiary of insurance; or

(2)

a person who:

(A)

is appointed as a receiver, liquidator, supervisor, or conservator of an insurer; or

(B)

is an employee of a receiver, liquidator, supervisor, or conservator of an insurer with respect to duties under that employment.
Added by Acts 1999, 76th Leg., ch. 101, Sec. 1, eff. Sept. 1, 1999.

Source: Section 33.002 — Insurance Business Interest; Service as Commissioner, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­33.­htm#33.­002 (accessed May 11, 2024).

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Accessed:
May 11, 2024

§ 33.002’s source at texas​.gov