Sec. 4001.252.  NOTIFICATION TO DEPARTMENT OF CERTAIN INFORMATION.  (a)  An individual licensed as an agent shall notify the department on a monthly basis of:
(1)  a change of the license holder's mailing address;
(2)  a felony conviction of the license holder;  or
(3)  an administrative action taken against the license holder by a financial or insurance regulator of this state, another state, or the United States.
(b)  A corporation or partnership licensed as an agent under this title shall file under oath, on a form developed by the department, biographical information for:
(1)  each executive officer, director, or unlicensed partner who administers the entity's operations in this state;
(2)  each shareholder who is in control of the corporation or partner who has the right or ability to control the partnership;  and
(3)  if the corporation or partnership is owned, in whole or in part, by another entity, each individual who is in control of the parent entity.
(c)  A corporation or partnership shall notify the department not later than the 30th day after the date of:
(1)  a felony conviction of a licensed agent of the entity or an individual associated with the entity who is required to file biographical information with the department;
(2)  an event for which notification would be required under Section 81.003;  or
(3)  the addition or removal of an officer, director, partner, member, or manager.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.