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Texas Statutes (Last Updated: January 4, 2014) |
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INSURANCE CODE |
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Title 13. REGULATION OF PROFESSIONALS |
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Subtitle D. OTHER PROFESSIONALS |
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Chapter 4151. THIRD-PARTY ADMINISTRATORS |
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Subchapter C. POWERS AND DUTIES OF ADMINISTRATORS AND INSURERS |
Sec. 4151.108. WITHDRAWALS FROM FIDUCIARY ACCOUNT
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A withdrawal from a fiduciary bank account established under Section 4151.107 may be made only as provided in the written agreement for any of the following purposes:
(1) delivery to an insurer, plan, or plan sponsor entitled to payment;
(2) deposit in an account controlled and maintained in the name of the insurer, plan, or plan sponsor;
(3) transfer to and deposit in a claims payment account for payment of a claim as provided by Section 4151.111;
(4) payment to a group policyholder for delivery to the insurer entitled to payment;
(5) payment to the administrator of the administrator's commission, fees, or charges;
(6) delivery of a return premium to any person entitled to payment; or
(7) payment of a premium for stop-loss or excess loss insurance.