(a) The board of trustees may, on a competitive bid basis, contract with an entity to act for the board as an independent administrator or manager of the coverages, services, and benefits authorized under this chapter.
(b) The entity must be a qualified, experienced firm of group insurance specialists or an administering firm and shall assist the board of trustees in ensuring the proper administration of this chapter and the coverages, services, and benefits provided for or authorized by this chapter.

Terms Used In Texas Insurance Code 1551.056

  • Contract: A legal written agreement that becomes binding when signed.

(c) The board of trustees shall pay an independent administrator selected under this section.