State Codes and Statutes

Statutes > Texas > Education-code > Title-6-benefits-consortiums > Chapter-2000-benefits-consortiums-for-certain-private-educational-institutions

EDUCATION CODE

TITLE 6. BENEFITS CONSORTIUMS

CHAPTER 2000. BENEFITS CONSORTIUMS FOR CERTAIN

PRIVATE EDUCATIONAL INSTITUTIONS

Sec. 2000.001. DEFINITIONS. In this chapter:

(1) "Employee welfare benefit plan" has the meaning assigned by

Section 3(1), Employee Retirement Income Security Act of 1974 (29

U.S.C. Section 1002(1)).

(2) "Private educational institution" means any nonpublic,

nonprofit, and accredited school that:

(A) is owned and operated by an individual, religious

institution, partnership, association, or corporation, or a

department, division, or section of one of those entities; and

(B) designates itself as a private educational center that

includes a program of elementary, secondary, religious, college,

or university education whose primary purpose is to provide

private or religious-based education.

Added by Acts 2005, 79th Leg., Ch.

625, Sec. 1, eff. June 17, 2005.

Sec. 2000.002. FORMATION OF BENEFITS CONSORTIUM. Two or more

private educational institutions may form a benefits consortium

for the purpose of establishing a self-funded employee welfare

benefit plan by adopting articles of incorporation or a

declaration of trust. The articles of incorporation or

declaration of trust must:

(1) limit membership in the benefits consortium to private

educational institutions;

(2) list the charter members of the benefits consortium;

(3) include the method by which other institutions may be

admitted as members of the benefits consortium;

(4) require that each member agree to an initial membership term

of not less than three years;

(5) provide that the directors or trustees of the benefits

consortium be elected from or on behalf of the membership of the

benefits consortium and prescribe the method for selection of

directors or trustees of the benefits consortium;

(6) provide that the directors or trustees have complete fiscal

control over the plan and are responsible for all operations of

the plan;

(7) list the purposes of the benefits consortium, including the

types of risks shared by members of the consortium;

(8) establish bylaws of the benefits consortium; and

(9) provide for amendment of the articles of incorporation or

declaration of trust and the bylaws.

Added by Acts 2005, 79th Leg., Ch.

625, Sec. 1, eff. June 17, 2005.

Sec. 2000.003. FILINGS BY BENEFITS CONSORTIUM. A benefits

consortium formed under this chapter shall:

(1) file with the commissioner of insurance a copy of the

consortium's articles of incorporation or declaration of trust

and any amendments to the articles of incorporation or

declaration of trust; and

(2) comply with all reporting requirements under the Employee

Retirement Income Security Act of 1974 (29 U.S.C. Section 1001 et

seq.).

Added by Acts 2005, 79th Leg., Ch.

625, Sec. 1, eff. June 17, 2005.

Sec. 2000.004. REGULATION OF BENEFITS CONSORTIUM; EXEMPTION FROM

STATE REGULATION. An employee welfare benefit plan established

by a benefits consortium under this chapter that is sponsored by

a trade association in existence for 10 years or more, is in good

standing with the secretary of state, and meets the requirements

of this chapter is governed solely by and shall comply with the

Employee Retirement Income Security Act of 1974 (29 U.S.C.

Section 1001 et seq.), as implemented by the United States

Department of Labor.

Added by Acts 2005, 79th Leg., Ch.

625, Sec. 1, eff. June 17, 2005.

State Codes and Statutes

Statutes > Texas > Education-code > Title-6-benefits-consortiums > Chapter-2000-benefits-consortiums-for-certain-private-educational-institutions

EDUCATION CODE

TITLE 6. BENEFITS CONSORTIUMS

CHAPTER 2000. BENEFITS CONSORTIUMS FOR CERTAIN

PRIVATE EDUCATIONAL INSTITUTIONS

Sec. 2000.001. DEFINITIONS. In this chapter:

(1) "Employee welfare benefit plan" has the meaning assigned by

Section 3(1), Employee Retirement Income Security Act of 1974 (29

U.S.C. Section 1002(1)).

(2) "Private educational institution" means any nonpublic,

nonprofit, and accredited school that:

(A) is owned and operated by an individual, religious

institution, partnership, association, or corporation, or a

department, division, or section of one of those entities; and

(B) designates itself as a private educational center that

includes a program of elementary, secondary, religious, college,

or university education whose primary purpose is to provide

private or religious-based education.

Added by Acts 2005, 79th Leg., Ch.

625, Sec. 1, eff. June 17, 2005.

Sec. 2000.002. FORMATION OF BENEFITS CONSORTIUM. Two or more

private educational institutions may form a benefits consortium

for the purpose of establishing a self-funded employee welfare

benefit plan by adopting articles of incorporation or a

declaration of trust. The articles of incorporation or

declaration of trust must:

(1) limit membership in the benefits consortium to private

educational institutions;

(2) list the charter members of the benefits consortium;

(3) include the method by which other institutions may be

admitted as members of the benefits consortium;

(4) require that each member agree to an initial membership term

of not less than three years;

(5) provide that the directors or trustees of the benefits

consortium be elected from or on behalf of the membership of the

benefits consortium and prescribe the method for selection of

directors or trustees of the benefits consortium;

(6) provide that the directors or trustees have complete fiscal

control over the plan and are responsible for all operations of

the plan;

(7) list the purposes of the benefits consortium, including the

types of risks shared by members of the consortium;

(8) establish bylaws of the benefits consortium; and

(9) provide for amendment of the articles of incorporation or

declaration of trust and the bylaws.

Added by Acts 2005, 79th Leg., Ch.

625, Sec. 1, eff. June 17, 2005.

Sec. 2000.003. FILINGS BY BENEFITS CONSORTIUM. A benefits

consortium formed under this chapter shall:

(1) file with the commissioner of insurance a copy of the

consortium's articles of incorporation or declaration of trust

and any amendments to the articles of incorporation or

declaration of trust; and

(2) comply with all reporting requirements under the Employee

Retirement Income Security Act of 1974 (29 U.S.C. Section 1001 et

seq.).

Added by Acts 2005, 79th Leg., Ch.

625, Sec. 1, eff. June 17, 2005.

Sec. 2000.004. REGULATION OF BENEFITS CONSORTIUM; EXEMPTION FROM

STATE REGULATION. An employee welfare benefit plan established

by a benefits consortium under this chapter that is sponsored by

a trade association in existence for 10 years or more, is in good

standing with the secretary of state, and meets the requirements

of this chapter is governed solely by and shall comply with the

Employee Retirement Income Security Act of 1974 (29 U.S.C.

Section 1001 et seq.), as implemented by the United States

Department of Labor.

Added by Acts 2005, 79th Leg., Ch.

625, Sec. 1, eff. June 17, 2005.


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State Codes and Statutes

Statutes > Texas > Education-code > Title-6-benefits-consortiums > Chapter-2000-benefits-consortiums-for-certain-private-educational-institutions

EDUCATION CODE

TITLE 6. BENEFITS CONSORTIUMS

CHAPTER 2000. BENEFITS CONSORTIUMS FOR CERTAIN

PRIVATE EDUCATIONAL INSTITUTIONS

Sec. 2000.001. DEFINITIONS. In this chapter:

(1) "Employee welfare benefit plan" has the meaning assigned by

Section 3(1), Employee Retirement Income Security Act of 1974 (29

U.S.C. Section 1002(1)).

(2) "Private educational institution" means any nonpublic,

nonprofit, and accredited school that:

(A) is owned and operated by an individual, religious

institution, partnership, association, or corporation, or a

department, division, or section of one of those entities; and

(B) designates itself as a private educational center that

includes a program of elementary, secondary, religious, college,

or university education whose primary purpose is to provide

private or religious-based education.

Added by Acts 2005, 79th Leg., Ch.

625, Sec. 1, eff. June 17, 2005.

Sec. 2000.002. FORMATION OF BENEFITS CONSORTIUM. Two or more

private educational institutions may form a benefits consortium

for the purpose of establishing a self-funded employee welfare

benefit plan by adopting articles of incorporation or a

declaration of trust. The articles of incorporation or

declaration of trust must:

(1) limit membership in the benefits consortium to private

educational institutions;

(2) list the charter members of the benefits consortium;

(3) include the method by which other institutions may be

admitted as members of the benefits consortium;

(4) require that each member agree to an initial membership term

of not less than three years;

(5) provide that the directors or trustees of the benefits

consortium be elected from or on behalf of the membership of the

benefits consortium and prescribe the method for selection of

directors or trustees of the benefits consortium;

(6) provide that the directors or trustees have complete fiscal

control over the plan and are responsible for all operations of

the plan;

(7) list the purposes of the benefits consortium, including the

types of risks shared by members of the consortium;

(8) establish bylaws of the benefits consortium; and

(9) provide for amendment of the articles of incorporation or

declaration of trust and the bylaws.

Added by Acts 2005, 79th Leg., Ch.

625, Sec. 1, eff. June 17, 2005.

Sec. 2000.003. FILINGS BY BENEFITS CONSORTIUM. A benefits

consortium formed under this chapter shall:

(1) file with the commissioner of insurance a copy of the

consortium's articles of incorporation or declaration of trust

and any amendments to the articles of incorporation or

declaration of trust; and

(2) comply with all reporting requirements under the Employee

Retirement Income Security Act of 1974 (29 U.S.C. Section 1001 et

seq.).

Added by Acts 2005, 79th Leg., Ch.

625, Sec. 1, eff. June 17, 2005.

Sec. 2000.004. REGULATION OF BENEFITS CONSORTIUM; EXEMPTION FROM

STATE REGULATION. An employee welfare benefit plan established

by a benefits consortium under this chapter that is sponsored by

a trade association in existence for 10 years or more, is in good

standing with the secretary of state, and meets the requirements

of this chapter is governed solely by and shall comply with the

Employee Retirement Income Security Act of 1974 (29 U.S.C.

Section 1001 et seq.), as implemented by the United States

Department of Labor.

Added by Acts 2005, 79th Leg., Ch.

625, Sec. 1, eff. June 17, 2005.


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