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Current as of January 01, 2024 | Updated by Findlaw Staff
A withdrawal from a fiduciary bank account established under Section 4151.107 may be made only as provided in the written agreement for any of the following purposes:
(1) delivery to an insurer, plan, or plan sponsor entitled to payment;
(2) deposit in an account controlled and maintained in the name of the insurer, plan, or plan sponsor;
(3) transfer to and deposit in a claims payment account for payment of a claim as provided by Section 4151.111;
(4) payment to a group policyholder for delivery to the insurer entitled to payment;
(5) payment to the administrator of the administrator's commission, fees, or charges;
(6) delivery of a return premium to any person entitled to payment; or
(7) payment of a premium for stop-loss or excess loss insurance.
Cite this article: FindLaw.com - Texas Insurance Code - INS § 4151.108. Withdrawals From Fiduciary Account - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-4151-108/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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