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Texas Insurance Code - INS § 1575.303. Payments from Fund

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) The following shall, without state fiscal year limitation, be paid from the fund:

(1) the appropriate premiums to a carrier providing group coverage under a plan under this chapter;

(2) claims for benefits under the group coverage;  and

(3) money spent by the trustee to administer the group program.

(b) The appropriate portion of the contributions to the fund to provide for incurred but unreported claim reserves and contingency reserves, as determined by the trustee, shall be retained in the fund.

(c) The fund is held in trust for the benefit of participants of the group program and may not be diverted.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 1575.303. Payments from Fund - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-1575-303/

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