Texas Insurance Code 1575.451 – Annual Accounting
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(a) In this section, “plan year” means the period beginning on September 1 and ending on the following August 31.
(b) Group coverage purchased under this chapter must provide for an accounting to the trustee by each carrier providing the coverage.
Terms Used In Texas Insurance Code 1575.451
- Trustee: A person or institution holding and administering property in trust.
- Year: means 12 consecutive months. See Texas Government Code 311.005
(c) The accounting must be submitted:
(1) not later than the 90th day after the last day of each plan year; and
(2) on a form approved by the trustee.
(d) Each carrier shall prepare any other report that the trustee considers necessary.
(e) A carrier may not assess an extra charge for an accounting report.