Tex. Ins. Code § 4151.107 · Subchapter C. POWERS AND DUTIES OF ADMINISTRATORS AND INSURERS
DELIVERY OR DEPOSIT OF CERTAIN FUNDS RECEIVED BY ADMINISTRATOR.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) On receiving a premium, contribution, or return premium, an administrator shall:
(1) timely deliver the funds to the person entitled to the funds according to terms of the written agreement; or
(2) promptly deposit the funds in a fiduciary bank account established and maintained by the administrator.
(b) If premiums or contributions deposited in a fiduciary bank account were collected on behalf of more than one insurer, plan, or plan sponsor, the administrator shall:
(1) maintain records that clearly record separately the deposits to and withdrawals from the account on behalf of each insurer, plan, or plan sponsor; and
(2) on request of an insurer, plan, or plan sponsor, provide to the insurer, plan, or plan sponsor a copy of the records relating to deposits and withdrawals on behalf of that insurer or plan.
(c) The requirements of Subsection (b):
(1) are in addition to requirements of any other federal or state law; and
(2) do not authorize the commingling of funds if otherwise prohibited by law.
Notes and commentary — not statutory text
History
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.4151.htm
- Text hash
- sha256 5d4c48bfa32e6bb169a5ba8c5651f9f588c10c23ed562b878a30c5dc7f3a3385
- 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 2 provisions
Provisions in this library whose text cites Tex. Ins. Code § 4151.107. Each shows the citation as that text prints it.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.