Texas Administrative Code (Last Updated: March 27,2024) |
TITLE 28. INSURANCE |
PART 1. TEXAS DEPARTMENT OF INSURANCE |
CHAPTER 13. MISCELLANEOUS INSURERS AND OTHER REGULATED ENTITIES |
SUBCHAPTER F. PROFESSIONAL EMPLOYER ORGANIZATIONS SPONSORING SELF-FUNDED EMPLOYEE HEALTH BENEFIT PLANS |
DIVISION 5. FORMATION, GOVERNANCE, AND OPERATION OF PLAN AND TRUST |
SECTION 13.554. Board of Trustees
Latest version.
-
(a) Appointment. An approved PEO may appoint members of the board of trustees. (b) Number of members. The board of trustees must have no fewer than three members. (c) Ineligible individuals. An owner, officer, or employee of a third party administrator or contracted regulated entity that provides services to the approved PEO, or any other person that has received compensation from the plan or trust may not serve as a board member. Source Note: The provisions of this §13.554 adopted to be effective May 17, 2016, 41 TexReg 3479