Receipt of Thing of Value; Criminal Penalty

Sec. 846.107. RECEIPT OF THING OF VALUE; CRIMINAL PENALTY. (a) A board member, officer, or employee of a multiple employer welfare arrangement may not, knowingly and intentionally, directly or indirectly: (1) receive money or another valuable thing for negotiating, procuring, recommending, or aiding in: (A) a purchase by or sale to the arrangement of property; or (B) a loan from the arrangement; or (2) be pecuniarily interested as a principal, coprincipal, agent, or beneficiary in a purchase, sale, or loan described by Subdivision (1). (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. SUBCHAPTER D. POWERS AND DUTIES OF MULTIPLE EMPLOYER WELFARE ARRANGEMENTS