Title 31A Chapter 25 Section 401

Insurance Code
Third Party Administrators
Section 401
Compensation not to be contingent on claims expense.

            

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