Texas Insurance Code 2210.061 – Contractors and Managerial Employees: Compensation and Bonuses
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Terms Used In Texas Insurance Code 2210.061
- Contract: A legal written agreement that becomes binding when signed.
- Year: means 12 consecutive months. See Texas Government Code 311.005
The association shall post on the association’s Internet website any compensation, monetary or otherwise, and any bonus that, when aggregated, exceed $100,000 in a calendar year and that are paid or given by the association to:
(1) a vendor or independent contractor with whom the association has a contract; or
(2) an association employee.