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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) A multiple employer welfare arrangement may pay the officers and agents of the arrangement suitable compensation. An officer, employee, or agent of an arrangement may not be compensated unreasonably.
(b) The compensation of any officer or employee of a multiple employer welfare arrangement may not be computed directly or indirectly as a percentage of money or premium collected.
(c) The compensation of an agent may not exceed five percent of the money or premium collected.
(d) A multiple employer welfare arrangement may pay compensation or make an emolument to an officer of the arrangement only if the compensation or emolument is first authorized by a majority vote of the board of the arrangement.
Cite this article: FindLaw.com - Texas Insurance Code - INS § 846.106. Compensation of Officers, Agents, and Employees - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-846-106/
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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