UNLAWFUL DIVERSION OF FUNDS; CRIMINAL PENALTY.
Tex. INS Code § 912.803.
in effect(a) A director, officer, agent, employee, attorney at law, or attorney in fact of a county mutual insurance company commits an offense if the person wilfully borrows, withholds, or diverts from its purpose in any manner all or part of a special fund that:
(1) belongs to or is under the control and management of the company; and
(2) is designated by law for that purpose.
(b) An offense under this section is punishable by imprisonment in the Texas Department of Criminal Justice for a term of not more than 10 years or less than 2 years.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969 ), Sec. 25.127, eff. September 1, 2009.