Texas Labor Code

§ 407A.153 — PROHIBITED ACTIVITIES

LA § 407A.153Title 5. WORKERS' COMPENSATION · Part A. TEXAS WORKERS' COMPENSATION ACT · Ch. 407A. GROUP SELF-INSURANCE COVERAGE · Art. D. BOARD OF TRUSTEES

Statute text

View on source

The board of trustees may not:

(1)extend credit to individual members for payment of a premium, except under payment plans approved by the commissioner; or

(2)without first advising the commissioner of the nature and purpose of the loan and obtaining prior approval from the commissioner, borrow any money from the group or in the name of the group except in the ordinary course of business.

Legislative history

Added by Acts 2003, 78th Leg., ch. 275, Sec. 1, eff. Sept. 1, 2003.