Sec. 2651.301.  GROUNDS FOR LICENSE DENIAL OR DISCIPLINARY ACTION.  The department may deny an application for a license or discipline a title insurance agent or direct operation under Sections 4005.102, 4005.103, and 4005.104 if the department determines that the applicant or license holder has:
(1)  wilfully violated this title;
(2)  intentionally made a material misstatement in the license application;
(3)  obtained or attempted to obtain the license by fraud or misrepresentation;
(4)  misappropriated or converted to the applicant's or license holder's own use or illegally withheld money belonging to a title insurance company, an insured, or another person;
(5)  been guilty of fraudulent or dishonest practices;
(6)  materially misrepresented the terms and conditions of a title insurance policy or contract;  or
(7)  failed to maintain:
(A)  a separate and distinct accounting of escrow funds;  and
(B)  an escrow bank account or accounts separate and apart from all other accounts.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.