1. (a) All final orders of the board shall be in writing and shall be signed by the chairman of the board. A final decision shall include findings of fact and conclusions of law separately stated. Findings of fact, if set forth in statutory language, shall be accompanied by a concise and explicit statement of the underlying facts supporting the findings.

2. (b) Acting in its capacity as fiduciary of the employee benefit plans for which it serves as trustee, the board may, in its discretion, modify or delete any proposed finding of fact or conclusion of law, or make alternative findings of fact or conclusions of law, if it determines that the proposal for decision submitted by the examiner, or a proposed finding of fact or conclusion of law contained therein, is:

   1. (1) clearly erroneous or illogical;
   2. (2) is against the weight of the evidence;
   3. (3) is based on misapplication of the rules of evidence or insufficient review of the evidence;
   4. (4) is inconsistent with the terms or intent, as determined by the board, of benefit plan or insurance policy provisions; or
   5. (5) is not sufficient to protect the public interest, the interests of the plans and programs for which the board is trustee, or the interests, as a group, of the participants covered by such plans and programs. The order shall contain a written statement of the reason and legal basis for each change made based on the foregoing policy reasons.
3. (c) A copy of the board's decision or order shall be served on any party or his authorized representative.

Source Note:The provisions of this §67.91 adopted to be effective March 19, 1986, 11 TexReg 1149; amended to be effective January 10, 1999, 24 TexReg 165.