2020-07-27T09:46:17-05:00 2019-12-31 410746749 CLIFTONLARSONALLEN LLP 5001 SPRING VALLEY ROAD SUITE 600W DALLAS TX 75244 990 2019-01-01 746252674 TEXAS LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION TEXA 5124765101 515 CONGRESS AVENUE NO 1875 AUSTIN TX 78701 BART A BOLES EXECUTIVE DIRECTOR 5124765101 2020-07-10 1 ALLISON BROWN P01603075 9723835700 2020-07-08 67.137.57.251 2020-07-10 09:37:10 CD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 81D6E97EF94BC8F9D952E5796B5A4D1463FD5E1C 2019 2020-11-06 18:47:13Z BART A BOLES 515 CONGRESS AVE SUITE 1875 AUSTIN TX 78701 1607705 0 X WWW.TXLIFEGA.ORG X 1973 TX THE TLHIGA WAS ESTABLISHED BY CHAPTER 463 OF THE TEXAS INSURANCE CODE TO PROVIDE CERTAIN PROTECTIONS TO LIFE, HEALTH AND ANNUITY POLICYHOLDERS IN THE EVENT THEIR MEMBER INSRUANCE COMPANY IS FOUND TO BE INSOLVENT AND ORDERED LIQUIDATED BY A COURT. 9 9 5 0 0 0 0 0 1696390 837114 960930 770591 0 0 2657320 1607705 0 0 0 0 605815 651235 0 0 0 6168176 2876947 6773991 3528182 -4116671 -1920477 47405074 45088552 9849219 8834980 37555855 36253572 THE TLHIGA WAS ESTABLISHED BY CHAPTER 463 OF THE TEXAS INSURANCE CODE TO PROVIDE CERTAIN PROTECTIONS TO LIFE, HEALTH AND ANNUITY POLICYHOLDERS IN THE EVENT THEIR MEMBER INSURANCE COMPANY IS FOUND TO BE INSOLVENT AND ORDERED LIQUIDATED BY A COURT. 0 0 TEXAS LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION PROVIDES PROTECTION TO TEXAS POLICY HOLDERS IN THE EVENT THEIR INSURANCE COMPANY BECOMES INSOLVENT. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 5 0 5 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 1 0 1 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X BART A BOLES 5124765101 515 CONGRESS AVENUE SUITE 1875 AUSTIN TX 78701 JAMES LEWIS DIRECTOR 4.00 X 0 0 0 JAMES HARRISON DIRECTOR 2.00 X 0 0 0 JAMES HUCKABY DIRECTOR 2.00 X 0 0 0 DEAN FRIGO DIRECTOR 2.00 X 0 0 0 TED KENNEDY DIRECTOR 2.00 X 0 0 0 ROBIN VINCENT DIRECTOR 2.00 X 0 0 0 TOM MUNSON DIRECTOR 2.00 X 0 0 0 PATI MCCANDLESS DIRECTOR 2.00 X 0 0 0 DAVID SOMMER DIRECTOR 2.00 X 0 0 0 BART A BOLES EXECUTIVE DIRECTOR 40.00 X 238496 0 35695 238496 0 35695 1 0 1 0 0 ESTATE RECOVERIES 900099 423633 423633 CHANGE IN UNBILLED ASS 900099 359452 359452 PREMIUM COLLECTIONS 900099 54029 54029 837114 770591 770591 1607705 837114 0 770591 238496 246050 50918 84837 30934 70453 121820 31896 40603 36717 28419 282566 16792 50292 -8736 6141 56027 NATIONAL INSOLVENCY TAS 1771675 PAYMENTS DISCHARGING OB 381885 NATIONAL ORGANIZATION M 85861 CHANGE IN CONTRACTUAL O -95464 3528182 13428669 12279785 91766 1097133 318257 677709 82304 82097 359912 338006 9370 21906 33408806 30836443 65902 93479 47405074 45088552 1742989 780900 8106230 8054080 9849219 8834980 X 37555855 36253572 37555855 36253572 47405074 45088552 -1920477 618194 0 X X 1 X 1 X 1 0 5874 5874 0 354038 332132 21906 21906 ASSESSMENT CREDIT BALANCE 4458625 INSURANCE CONTRACTUAL OBLIGATIONS 3551889 DEFERRED COMPENSATION PLAN LIABILITIES 43566 8054080 X 2234635 618194 618194 1616441 -8736 -8736 1607705 3536918 0 3536918 -8736 -8736 3528182 PART X, LINE 2: THE FINANCIAL STATEMENTS ARE PRESENTED USING THE ECONOMIC RESOURCES MEASUREMENT FOCUS AND THE ACCRUAL BASIS OF ACCOUNTING, EXCEPT FOR PREMIUM INCOME, WHICH IS RECOGNIZED WHEN COLLECTED BECAUSE OF THE IMMATERIAL AMOUNT OF PREMIUMS TO BE ACCRUED. CONSEQUENTLY, REVENUE IS RECOGNIZED WHEN EARNED AND EXPENSES ARE RECOGNIZED WHEN THE OBLIGATIONS ARE INCURRED. OPERATING REVENUES AND EXPENSES GENERALLY RESULT FROM PROVIDING SERVICES IN CONNECTION WITH THE ASSOCIATION'S PRINCIPAL ONGOING OPERATIONS, AS DESCRIBED IN NOTE 1. ALL REVENUES AND EXPENSES NOT MEETING THIS DEFINITION ARE REPORTED AS NONOPERATING REVENUES AND EXPENSES. ASSESSMENT REVENUE (BILLED AND UNBILLED) IS RECOGNIZED WHEN INSURANCE CONTRACTUAL OBLIGATIONS ARE INCURRED. CLAIM LIABILITIES ARE RECOGNIZED USING ESTIMATES OF CONTRACTUAL OBLIGATIONS FOR EACH IMPAIRED INSURER AT THE DATE OF IMPAIRMENT OR ISSUANCE OF AN ORDER OF LIQUIDATION BASED ON A FINDING OF INSOLVENCY BY A COURT OF COMPETENT JURISDICTION. PROJECTED CLAIM LIABILITIES ARE REVIEWED AND REVISED PERIODICALLY AS INFORMATION RELATED TO THE OBLIGATIONS OF THE INDIVIDUAL INSOLVENT MEMBER COMPANIES IS OBTAINED. PART XI LINE 4B INTEREST EXPENSE THAT WAS NETTED WITH INTEREST INCOME FOR AUDIT PRESENTATION PURPOSES PART XII LINE 4B INTEREST EXPENSE THAT WAS NETTED WITH INTEREST INCOME FOR AUDIT PRESENTATION PURPOSES X X X X X X 0 1 0 BART A BOLES EXECUTIVE DIRECTOR 238496 0 0 0 0 0 35695 0 0 0 274191 0 0 0 PART I, LINE 4B AS PART OF HIS EXECUTIVE EMPLOYMENT AND DEFERRED COMPENSATION CONTRACT, THE TEXAS LIFE INSURANCE GUARANTY ASSOCIATION MADE A $19,000 PAYMENT INTO THE 457(B) RETIREMENT PLAN OF THE EXECUTIVE DIRECTOR, BART A BOLES IN 2019 IN ACCORDANCE WITH THE TERMS OF THE CONTRACT. FORM 990, PART VI, SECTION A, LINE 4 IN 2019, THE TLHIGA'S BOARD OF DIRECTORS, UPON RECOMMENDATION BY THE LEGISLATIVE COMMITTEE, APPROVED A REVISION TO THE TLHIGA PLAN OF OPERATIONS AND SUMMARY DOCUMENT TO INCORPORATE THE CHANGES THAT RESULTED FROM THE REVISIONS TO THE TLHIGA'S GOVERNING STATUTE CHAPTER 463 OF THE TEXAS INSURANCE CODE THAT WERE EFFECTIVE SEPTEMBER 1, 2019. THE BOARD ALSO ADOPTED THE SECURITY RESPONSE PLAN IN 2019. FORM 990, PART VI, SECTION A, LINE 6 THE TLHIGS'S MEMBERSHIP IS COMPRISED OF ALL INSURANCE COMPANIES LICENSED IN THE STATE OF TEXAS BY THE TEXAS DEPARTMENT OF INSURANCE TO WRITE LIFE, HEALTH AND ANNUITY POLICIES AS SET OUT IN SECTION 463.052 OF THE TEXAS INSURANCE CODE. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WITH ALL APPLICABLE SCHEDULES IS PREPARED BY THE ACCOUNTING DEPARTMENT AND REVIEWED BY THE EXECUTIVE DIRECTOR. THE FORM AND SCHEDULES ARE THEN SENT TO AN INDEPENDENT CPA FIRM FOR REVIEW. THE MATERIAL IS PROVIDED TO THE BOARD OF DIRECTORS AND COUNSEL AND REVIEWED AT THE BOARD'S REGULAR QUARTERLY MEETING. AFTER REVIEW BY THE BOARD, THE RETURN IS SIGNED AND SUBMITED PRIOR TO FILING DEADLINE. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, THE TLHIGA SENDS OUT ITS WRITTEN CONFLICT OF INTEREST AND ANTI-TRUST POLICIES TO ALL DIRECTORS, EMPLOYEES AND APPLICABLE VENDORS. THE RECIPIENT MUST RESPOND TO QUESTIONS DESIGNED TO DETERMINE IF A CONFLICT OF INTEREST EXISTS. THE RESPONSES ARE SENT BACK TO THE TLHIGA AND REVIEWED BY THE EXECUTIVE DIRECTOR WHO REPORTS TO THE BOARD OF DIRECTORS AT ITS REGULAR QUARTERLY MEETING. FORM 990, PART VI, SECTION B, LINE 15 IN 2018, THE TLHIGA ENTERED INTO AN EXECUTIVE EMPLOYMENT AND DEFERRED COMPENSATION CONTRACT WITH THE EXECUTIVE DIRECTOR WHICH COVERS NINE YEARS. THE CONTRACT ESTABLISHED A 457(B) RETIREMENT PLAN FOR THE EXECUTIVE DIRECTOR WITH CONTRIBUTIONS SUBJECT TO CERTAIN MILESTONES BEING MET. THE EXECUTIVE DIRECTOR CAN MAKE INVESTMENT DECISIONS INVOLVING THE ASSETS OF THE PLAN BUT THE TLHIGA MAINTAINS OWNERSHIP OF THE ASSETS UNTIL DISTRIBUTEED IN ACCORDANCE WITH THE PLAN. THE CONTRACT CALLS FOR THE EXECUTIVE DIRECTOR TO UNDERGO A PERFORMANCE EVALUATION ANNUALLY. THE PERSONNEL COMMITTEE SEND OUT A REVIEW FORM TO EACH BOARD MEMBER REGARDING THE EXECUTIVE DITECTOR'S PERFORMANCE AND GATHERS RESPONSES. THE PERSONNEL COMMITTEE MAY GATHER ANY OTHER INFORMATION IT DEEMS NECESSARY TO COMPLETE THE REVIEW. THE PERSONNEL COMMITTEE WILL PROVIDE THIS INFORMATION TO THE BOARD OF DIRECTORS IN ADVANCE OF ITS REGULARLY SCHEDULED MEETING AND MAY MAKE RECOMMENDATIONS TO THE BOARD. THE BOARD WILL REVIEW THE EXECUTIVE DIRECTOR'S PERFORMANCE IN CLOSED EXECUTIVE SESSION OF THE MEETING AS ALLOWED BY THE TEXAS OPEN MEETINGS ACT BUT WILL MAKE DECISIONS REGARDING COMPENSATION AND BENEFIT CHANGES DURING THE OPEN SESSION. ALL OTHER EMPLOYEES ARE REVIEWED BY EXECUTIVE DIRECTOR ANNUALLY. THESE RECOMMENDATIONS ARE REVIEWED WITH BOTH THE PERSONNEL COMMITTEE AND BOARD OF DIRECTORS AND ANY ADJUSTMENTS ARE MADE. THE BOARD WILL FORMALLY ADOPT THE CHANGES WHEN IT ADOPTS THE BUDGET FOR THE YEAR. FORM 990, PART VI, SECTION C, LINE 19 THE TLHIGA IS SUBJECT TO THE TEXAS OPEN MEETING AND TEXAS OPEN RECORDS ACT. THE PUBLIC MAY REQUEST AND OPEN RECORD BY FOLLOWITN THE APPROPRIATE STEPS OUTLINED IN THE ACTS THAT IS NOT SPECIFICALLY EXCLUDED BY LAW. PART XII LINE 2C THERE WERE NO CHANGES TO THE PROCESS FROM PRIOR YEAR.