Section 462.101 - General Powers and Duties(a) The association may:(1) employ or retain persons as necessary to handle claims and perform other duties of the association;(2) borrow money necessary to implement this chapter in accordance with the plan of operation;(4) negotiate and enter into a contract as necessary to implement this chapter; and(5) perform other acts as necessary or proper to implement this chapter.(b) A contract authorized by Subsection (a)(4) includes a lump-sum or structured compromise and settlement agreement with a claimant who has a claim for medical or indemnity benefits for a period of three years or more, other than a settlement or lump-sum payment in violation of Subtitle A, Title 5, Labor Code.Added by Acts 2005, 79th Leg., Ch. 727, Sec. 1, eff. 4/1/2007.