If the allegations in Texas Attorney General Ken Paxton's felony indictments are true, then he could lose his law license in addition to facing jail time and fines. He could still face disbarment even if he is acquitted of the alleged crimes.

Three of the state's top legal ethics attorneys say that the two securities fraud indictments against Paxton allege conduct that would violate at least two disciplinary rules: one that prohibits any attorney from engaging in conduct involving dishonesty, fraud, deceit or misrepresentation; and another that prohibits an attorney from committing a crime or act that reflects poorly on his honesty, trustworthiness or fitness to be a lawyer.

“A lawyer has to follow the straight and narrow, even if the lawyer is not representing somebody. Whenever you get admitted to the bar, you have to pass a fitness examination,” said Lillian Hardwick, an Austin attorney who writes and serves as an expert witness about judicial and lawyer ethics. “If you do something that would be a problem at the time of admission, they get you under [Texas Disciplinary Rules of Professional Conduct] Rule 8, which basically says, 'A lawyer shall not be bad.'”