Texas Insurance Code 1251.053 – Funds Established by Employers, Labor Unions, or Associations
(a) A group accident and health insurance policy may be issued to the trustees of a fund established by two or more employers in the same or related industry, by one or more labor unions, by one or more employers and one or more labor unions, or by an association described by § 1251.052 to insure the active and retired employees of the employers, members of the union or association, or employees of the association for the benefit of persons other than the employers, union, or association.
(b) A policy issued to the trustees of a fund established by employers or a labor union or association may provide that the term “employee” includes:
(1) an officer or manager of the employer;
(2) an individual proprietor or partner, if the employer is an individual proprietorship or partnership; or
(3) a trustee, an employee of the trustees, or both, if the person‘s duties are principally connected with the trusteeship.
Terms Used In Texas Insurance Code 1251.053
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Trustee: A person or institution holding and administering property in trust.
(c) The trustees of a fund established by employers or a labor union or association are the policyholder under a policy to which this section applies.