(a) Trustees who act as fiduciaries for a risk pool must have at least 16 hours of combined professional instruction with four hours of instruction in each of the following areas:
- (1) law governing the establishment and operation of risk pools by political subdivisions;
- (2) principles of self-insurance and risk pools, including actuarial and underwriting principles and investment principles;
- (3) principles relating to reading and understanding financial statements; and
- (4) the general fiduciary duties of trustees.
- (b) Not later than the 180th day after the date of selection as trustee, or after the effective date of this chapter, whichever is the later date, a trustee must complete the training required by Subsection (a).
Added by Acts 1989, 71st Leg., ch. 1067, Sec. 1, eff. Sept. 1, 1989.