(a) An administrator or service company under this chapter that performs the acts of an administrator as defined in Chapter 4151, Insurance Code, must hold a certificate of authority under that chapter.
(b) An entity is required to hold only one certificate of authority under Chapter 4151, Insurance Code, if:
(1) the entity acts as an administrator and a service company as defined in this chapter; and
(2) performs the acts of an administrator as that term is defined in Chapter 4151, Insurance Code.
(c) Exemptions in Chapter 4151, Insurance Code, as provided in Sections 4151.002(18), (19), and (20), apply to an administrator or service company under this section.