Texas Insurance Code 1575.454 – Reports by and Examination of Carrier
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Terms Used In Texas Insurance Code 1575.454
- Contract: A legal written agreement that becomes binding when signed.
- Trustee: A person or institution holding and administering property in trust.
Each contract entered into under this chapter between the trustee and a carrier must require the carrier to:
(1) furnish to the trustee in a timely manner reasonable reports that the trustee determines are necessary to implement this chapter; and
(2) permit the trustee and the state auditor to examine records of the carrier as necessary to implement this chapter.