1131.503 – PAYMENT OF PREMIUMS. (a) The policyholder must
Texas Insurance Code § 1131.503
Summary
This law outlines the requirements for premium payments for insurance policies, specifying that policyholders must use their own funds or contributions from employees or members. It also allows for direct payments from individual employees or members to the insurer.
Premiums must be paid from policyholder or employee/member funds.
Direct payments to insurers by employees or members are permitted.
Ensures clarity on funding sources for insurance premiums.
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In simple terms: Learn about Texas's PAYMENT OF PREMIUMS. (a) The policyholder must law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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