- (a) A carrier providing a coverage purchased under this chapter shall provide an accounting to the board of trustees not later than the 90th day after the end of each plan year.
- (b) The accounting must be in a form approved by the board of trustees.
(c) The accounting must state for the period from the coverage's date of issue to the end of the plan year:
- (1) the amounts of contributions accrued under the coverage;
- (2) the total of mortality and other claims, charges, losses, and expenses incurred; and
- (3) the amounts of the carrier's allowance for a reasonable profit and contingencies.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 3, eff. June 1, 2003.