Tex. Ins. Code § 1579.055

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 1579.055 - Contract Award; Considerations

(a) In awarding a contract to provide group benefits under this chapter, the trustee is not required to select the lowest bid and may consider also any relevant criteria, including the bidder's:

(1) ability to service contracts;

(2) past experiences; and

(3) financial stability.

(b) If the trustee awards a contract to a bidder whose bid deviates from that advertised, the trustee shall record the deviation and fully justify the reason for the deviation in the minutes of the next board meeting.

Tex. Ins. Code § 1579.055

Added by Acts 2003, 78th Leg., ch. 1276, Sec. 10A.471(a), eff. 9/1/2003.