Sec. 846.106. COMPENSATION OF OFFICERS, AGENTS, AND EMPLOYEES. (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.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Structure Texas Statutes
Title 6 - Organization of Insurers and Related Entities
Subtitle C - Life, Health, and Accident Insurers and Related Entities
Chapter 846 - Multiple Employer Welfare Arrangements
Subchapter C. Board Members; Other Officers and Personnel
Section 846.101. Board Members; Notice of Elections
Section 846.102. Duties of Board Members
Section 846.103. Limitation on Action Against Board Member
Section 846.104. Compensation of Board Members
Section 846.105. Officers; Agents
Section 846.106. Compensation of Officers, Agents, and Employees
Section 846.107. Receipt of Thing of Value; Criminal Penalty