Texas Statutes
§ 1551.214 — SELECTION OF BIDS FOR PURCHASED COVERAGE.
Texas § 1551.214
JurisdictionTexas
Code INInsurance Code
This text of Texas § 1551.214 (SELECTION OF BIDS FOR PURCHASED COVERAGE.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Tex. Insurance Code Code Ann. § 1551.214 (2026).
Text
Sec. 1551.214. SELECTION OF BIDS FOR PURCHASED COVERAGE.
(a)An actuary selected by the board of trustees shall advise the board as to the actuarial soundness of the bids received under Section 1551.213 .
(b)The board of trustees:
(1)shall select carriers to provide services that will be in the best interest of participants; and
(2)is not required to select the lowest bid but shall take into consideration other relevant criteria, including ability to service contracts, past experience, and financial ability.
(c)If the board of trustees selects a carrier whose bid differs from that advertised, the board shall record the deviation and shall fully justify and explain the reasons for the deviation in the minutes of the next meeting of the board.
(d)The board of trustees shall notify the c
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Legislative History
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 3, eff. June 1, 2003.
Nearby Sections
15
§ 1551.001
SHORT TITLE.§ 1551.002
PURPOSES.§ 1551.003
GENERAL DEFINITIONS.§ 1551.004
DEFINITION OF DEPENDENT.§ 1551.005
DEFINITION OF HEALTH BENEFIT PLAN.§ 1551.007
DEFINITION OF CARRIER.§ 1551.008
APPLICABILITY OF DEFINITIONS.§ 1551.011
EXEMPTION FROM EXECUTION.§ 1551.012
EXEMPTION FROM STATE TAXES AND FEES.§ 1551.014
EXCLUSIVE REMEDIES.§ 1551.015
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Bluebook (online)
Texas § 1551.214, Counsel Stack Legal Research, https://law.counselstack.com/statute/tx/IN/1551.214.