Sec. 4151.106. CERTAIN FUNDS COLLECTED OR RECEIVED BY ADMINISTRATOR. (a) An administrator who collects funds must identify and state separately in writing the amount of any premium or contribution specified by the insurer, plan, or plan sponsor for the coverage and provide the information to any person who pays to the administrator a premium or contribution.
(b) An administrator holds in a fiduciary capacity:
(1) a premium or contribution the administrator collects on behalf of an insurer, plan, or plan sponsor; and
(2) a return premium the administrator receives from an insurer, plan, or plan sponsor.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
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