Texas Labor Code - Section 407A.455. Board General Powers And Duties
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Texas Lawyer > Labor Code > Texas Labor Code - Section 407A.455. Board General Powers And Duties
§ 407A.455. BOARD GENERAL POWERS AND DUTIES. (a) The
board shall:
(1) create and maintain a trust fund for payment of the
workers' compensation liabilities of an insolvent group;
(2) hire staff as necessary;
(3) provide recommendations to the commissioner
regarding rules or guidelines applicable to groups;
(4) receive reports from the department on the
financial condition of groups, including examination and audit
reports;
(5) engage consulting experts as necessary to review
information provided by or filed with the department to ensure
financial solvency of groups under this chapter;
(6) provide advisory recommendations to the
commissioner as necessary regarding an applicant's compliance with
Subchapter B relating to application requirements for
certification; and
(7) take action, in response to a finding by the
commissioner that a group is insolvent, to use the trust fund's
resources to ensure the payment of the group's valid workers'
compensation claims and related administrative expenses.
(b) The board shall control all amounts in the trust fund,
including investment of those amounts.
(c) The guaranty fund may not disclose confidential
information received from the department in a financial report
under Subsection (a)(4), including an examination or audit report.
Information received from the department remains confidential and
not subject to disclosure under Chapter 552, Government Code.
(d) The board may make recommendations under Subsection
(a)(6) outside of regular board meetings.
Added by Acts 2005, 79th Leg., ch. 1055, § 1, eff. Sept. 1, 2005.
Section: 407A.402 407A.403 407A.404 407A.451 407A.452 407A.453 407A.454 407A.455 407A.456 407A.457 407A.458 407A.459 407A.460 407A.461 407A.462
Last modified: August 10, 2007
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