Sec. 33.002.  INSURANCE BUSINESS INTEREST;  SERVICE AS COMMISSIONER.  (a)  A person is not eligible for appointment as commissioner if the person, the person's spouse, or any other person who resides in the same household as the person:
(1)  is registered, certified, or licensed by the department;
(2)  is employed by or participates in the management of a business entity or other organization regulated by or receiving funds from the department;
(3)  owns or controls, directly or indirectly, more than a 10 percent interest in a business entity or other organization regulated by or receiving funds from the department;  or
(4)  uses or receives a substantial amount of tangible goods, services, or funds from the department, other than compensation or reimbursement authorized by law.
(b)  A person is not eligible for appointment as commissioner if the person:
(1)  is a stockholder, director, officer, attorney, agent, or employee of an insurance company, insurance agent, insurance broker, or insurance adjuster;  or
(2)  is directly or indirectly interested in a business described by Subdivision (1).
(c)  Subsection (b) does not apply to:
(1)  a person solely because the person is insured by an insurer or is the beneficiary of insurance;  or
(2)  a person who:
(A)  is appointed as a receiver, liquidator, supervisor, or conservator of an insurer;  or
(B)  is an employee of a receiver, liquidator, supervisor, or conservator of an insurer with respect to duties under that employment.
Added by Acts 1999, 76th Leg., ch. 101, Sec. 1, eff. Sept. 1, 1999.