In my own experience I had it once. My relationship w/ King Harlaus droped like 10-15 points and said he should indicate me for treason, but he let it slide the first time.
So I guess you get a warning first and a punishment later or it might depend on your relationship with the liege so you can abuse other factions until you reach the negative points with a king.
I hope this is what you're looking for.
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