Tex. Ins. Code § 1601.060 · Subchapter B. ADMINISTRATION AND IMPLEMENTATION
ACCOUNTING BY CARRIER PROVIDING PURCHASED COVERAGE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A carrier providing coverage purchased under this chapter to a system shall provide an accounting for each line of coverage to the system not later than the 120th day after the end of each plan year.
(b) The accounting must be in a form acceptable to the system.
(c) The accounting for each line of coverage must state:
(1) the cumulative amount of contributions remitted to the carrier under the coverage;
(2) the total of all mortality and other claims, charges, losses, costs, contingency reserve for pending and unreported claims, and expenses incurred; and
(3) the amounts of the allowance for a reasonable profit, contingency reserve, and all other administrative charges.
(d) Information provided under Subsection (c) must be provided:
(1) for the period from the coverage's date of issue to the end of the plan year; and
(2) for the plan year covered by the report.
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.1601.htm
- Text hash
- sha256 c5cefef2f7b01a1bcf8a1f80d82e28c70a246a9bda764efce24f0da7331e3e77
- 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
Cited by 1 provision
Provisions in this library whose text cites Tex. Ins. Code § 1601.060. Each shows the citation as that text prints it.
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