1. (a) A multiple employer welfare arrangement may only provide one or more of the following:

   1. (1) medical, dental, vision, surgical, or hospital care;
   2. (2) benefits in the event of sickness, accident, disability, or death;
   3. (3) another benefit authorized to be provided by health insurers in this state; and
   4. (4) prepaid legal services.

2. (b) Except as otherwise limited by the Employee Retirement Income Security Act of 1974 (29 U.S.C. Section 1001 et seq.), a multiple employer welfare arrangement may only provide benefits to:

   1. (1) active or retired owners, officers, directors, or employees of or partners in participating employers; and
   2. (2) the beneficiaries of a person described by Subdivision (1).

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.