Section 2202.201 - Grounds for Denial of Certificate of Authority or for Disciplinary Action The commissioner may deny an application for a certificate of authority or discipline a certificate holder under this subchapter if the commissioner finds that the applicant or certificate holder, or an officer or director of an applicant or certificate holder:
(1) wilfully violated or participated in the violation of this chapter or any other insurance law of this state;(2) intentionally made a material misstatement in the original or renewal application;(3) obtained or attempted to obtain the certificate by fraud or misrepresentation;(4) misappropriated, converted to a personal or other inappropriate use, or illegally withheld money required to be held in a fiduciary capacity;(5) has been convicted of a felony or convicted of a misdemeanor of which criminal fraud is an essential element; or(6) is incompetent or untrustworthy.Tex. Ins. Code § 2202.201
Added by Acts 2005, 79th Leg., Ch. 727, Sec. 2, eff. 4/1/2007.