Texas Statutes
Subchapter C. Powers and Duties of Administrators and Insurers
Section 4151.107. Delivery or Deposit of Certain Funds Received by Administrator

Sec. 4151.107. DELIVERY OR DEPOSIT OF CERTAIN FUNDS RECEIVED BY ADMINISTRATOR. (a) On receiving a premium, contribution, or return premium, an administrator shall:
(1) timely deliver the funds to the person entitled to the funds according to terms of the written agreement; or
(2) promptly deposit the funds in a fiduciary bank account established and maintained by the administrator.
(b) If premiums or contributions deposited in a fiduciary bank account were collected on behalf of more than one insurer, plan, or plan sponsor, the administrator shall:
(1) maintain records that clearly record separately the deposits to and withdrawals from the account on behalf of each insurer, plan, or plan sponsor; and
(2) on request of an insurer, plan, or plan sponsor, provide to the insurer, plan, or plan sponsor a copy of the records relating to deposits and withdrawals on behalf of that insurer or plan.
(c) The requirements of Subsection (b):
(1) are in addition to requirements of any other federal or state law; and
(2) do not authorize the commingling of funds if otherwise prohibited by law.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.

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