Texas Insurance Code - Section 401.004. Filing And Extensions For Filing Of Audited Financial Report
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§ 401.004. FILING AND EXTENSIONS FOR FILING OF AUDITED
FINANCIAL REPORT. (a) Unless exempt under Section 401.006,
401.007, or 401.008 and except as otherwise provided by Sections
401.005 and 401.016, an insurer or health maintenance organization
shall:
(1) have an annual audit performed by an accountant;
and
(2) file with the commissioner on or before June 30 an
audited financial report for the preceding calendar year.
(b) The commissioner may require an insurer or health
maintenance organization to file an audited financial report on a
date that precedes June 30. The commissioner must notify the
insurer or health maintenance organization of the filing date not
later than the 90th day before that date.
(c) An insurer or health maintenance organization may
request an extension of the filing date by submitting the request in
writing before the 10th day preceding the filing date. The request
must include sufficient detail for the commissioner to make an
informed decision on the requested extension. The commissioner may
extend the filing date for one or more 30-day periods if the
commissioner determines that there is good cause for the extension
based on a showing by the insurer or health maintenance
organization and the insurer's or health maintenance organization's
accountant of the reasons for requesting the extension.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 281.006 281.007 281.051 281.052 401.001 401.002 401.003 401.004 401.005 401.006 401.007 401.008 401.009 401.010 401.011
Last modified: August 10, 2007
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