(a) Appointment. An approved PEO may appoint members of the board of trustees.
(b) Number of members. The board of trustees must have no fewer than three members.
(c) Ineligible individuals. An owner, officer, or employee of a third party administrator or contracted regulated entity that provides services to the approved PEO, or any other person that has received compensation from the plan or trust may not serve as a board member.

Source Note: The provisions of this §13.554 adopted to be effective May 17, 2016, 41 TexReg 3479