Texas Insurance Code
§ 846.102 — DUTIES OF BOARD MEMBERS
IN § 846.102Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part C. LIFE, HEALTH, AND ACCIDENT INSURERS AND RELATED ENTITIES · Ch. 846. MULTIPLE EMPLOYER WELFARE ARRANGEMENTS · Art. C. BOARD MEMBERS; OTHER OFFICERS AND PERSONNEL
Statute text
View on source(a)The board members of a multiple employer welfare arrangement are responsible for all operations of the arrangement and shall take all necessary precautions to safeguard the assets of the arrangement.
(b)A board member shall give the attention and exercise the vigilance, diligence, care, and skill that a prudent person would use in like or similar circumstances.
Legislative history
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.