Texas Insurance Code 1575.106 – Competitive Bidding Requirements; Rule
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(a) A contract to provide group benefits under this chapter may be awarded only through competitive bidding under rules adopted by the trustee.
(b) The trustee shall submit for competitive bidding at least every six years each contract for coverage under this chapter.
Terms Used In Texas Insurance Code 1575.106
- Contract: A legal written agreement that becomes binding when signed.
- Trustee: A person or institution holding and administering property in trust.