Sec. 407A.453. BOARD OF DIRECTORS. (a) The guaranty fund is managed by a board of directors.
(b) The board is composed of the following voting members:
(1) three members elected as provided by Subsection (c), each of whom represents a different group certified under this chapter;
(2) one member to represent wage earners designated by the commission;
(3) one member designated by the commissioner; and
(4) the public counsel of the office of public insurance counsel.
(c) Representatives of each group certified under this chapter may participate equally in the election of the three members of the board elected under Subsection (b)(1). A person elected under Subsection (b)(1) must be approved by the commissioner before the person may serve on the board.
(d) Notwithstanding Subsection (c), the commissioner shall appoint the initial board members representing groups. A person appointed as an initial board member under this subsection is eligible to serve additional terms on election by the members of the guaranty fund.
Added by Acts 2005, 79th Leg., Ch. 1055 (H.B. 1353), Sec. 1, eff. September 1, 2005.
Structure Texas Statutes
Title 5 - Workers' Compensation
Subtitle A - Texas Workers' Compensation Act
Chapter 407A - Group Self-Insurance Coverage
Subchapter J. Texas Self-Insurance Group Guaranty Fund
Section 407A.452. Guaranty Fund
Section 407A.453. Board of Directors
Section 407A.455. Board General Powers and Duties
Section 407A.456. Plan of Operation
Section 407A.457. Trust Fund; Schedule
Section 407A.458. Effect of Insolvency of Group
Section 407A.460. Payment of Benefits Through Guaranty Fund
Section 407A.461. Possession of Security by Guaranty Fund
Section 407A.462. Release of Claim Information to Guaranty Fund