31A-25-401. Compensation not to be contingent on claims expense.
72 words·~1 min read·
/ut/title-31a/chapter-25/31a-25-401A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
31A-25-401. Compensation not to be contingent on claims expense.
The compensation paid to a third party administrator for any policies under which the third party administrator adjusts or settles claims may be contingent on claims experience only if the third party administrator discloses to the person whose plan is being administered any conflicts of interest which are present on account of the compensation arrangement.
Enacted by Chapter 242 , 1985 General Session