Sec. 4151.108. WITHDRAWALS FROM FIDUCIARY ACCOUNT. 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.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
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