Offense of Subscribing To Or Making False Statement

Sec. 823.502. OFFENSE OF SUBSCRIBING TO OR MAKING FALSE STATEMENT. (a) A person commits an offense if the person is an officer, director, or employee of a domestic insurer or the insurer's insurance holding company system and wilfully and knowingly subscribes to or makes or causes to be made a false statement on a written instrument required to be filed with the commissioner. (b) An offense under Subsection (a) is a felony punishable by: (1) imprisonment for a term of not less than two years; (2) a fine not to exceed $10,000 for each violation; or (3) both fine and imprisonment under this subsection. (c) A person on whom a fine is imposed under this section shall pay the fine in that person's individual capacity. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.