Withdrawals From Fiduciary Account

Sec. 4151.108. WITHDRAWALS FROM FIDUCIARY ACCOUNT. A withdrawal from a fiduciary bank account established under Section 4151.107 may be made only as provided in the written agreement for any of the following purposes: (1) delivery to an insurer, plan, or plan sponsor entitled to payment; (2) deposit in an account controlled and maintained in the name of the insurer, plan, or plan sponsor; (3) transfer to and deposit in a claims payment account for payment of a claim as provided by Section 4151.111; (4) payment to a group policyholder for delivery to the insurer entitled to payment; (5) payment to the administrator of the administrator's commission, fees, or charges; (6) delivery of a return premium to any person entitled to payment; or (7) payment of a premium for stop-loss or excess loss insurance. Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.