Tex. Ins. Code § 1551.214 · Subchapter E. GROUP COVERAGES
SELECTION OF BIDS FOR PURCHASED COVERAGE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) An actuary selected by the board of trustees shall advise the board as to the actuarial soundness of the bids received under Section 1551.213.
(b) The board of trustees:
(1) shall select carriers to provide services that will be in the best interest of participants; and
(2) is not required to select the lowest bid but shall take into consideration other relevant criteria, including ability to service contracts, past experience, and financial ability.
(c) If the board of trustees selects a carrier whose bid differs from that advertised, the board shall record the deviation and shall fully justify and explain the reasons for the deviation in the minutes of the next meeting of the board.
(d) The board of trustees shall notify the carriers that submitted bids of the results of the bidding.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 3, eff. June 1, 2003.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.1551.htm
- Text hash
- sha256 93eab22592b81eac2c7e407db97bfe998cd2cfd1c8e8da4788616755fc472d0f
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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