Texas Insurance Code - INS § 846.052. Application for Initial Certificate of Authority

(1) a copy of each organizational document;

(2) current financial statements of the arrangement;

(3) a fully detailed statement indicating the plan under which the arrangement proposes to transact business;

(4) an initial actuarial opinion in compliance with the requirements of Section 846.153(a)(2) and subject to Section 846.157(b);  and

(5) demonstration by the applicant that the arrangement is in compliance with all applicable federal and state laws, as determined by the commissioner.

(1) protects against acts of fraud or dishonesty in servicing the multiple employer welfare arrangement;

(2) covers each person responsible for servicing the employee welfare benefit plan;  and

(3) is in an amount equal to the greater of 10 percent of the premiums and contributions received by the arrangement or 10 percent of the benefits paid, during the preceding calendar year, with a minimum of $10,000 and a maximum of $500,000.

(1) conduct any investigation that the commissioner considers necessary;  and

(2) examine under oath any person interested in or connected with the multiple employer welfare arrangement.