Texas Insurance Code - Section 401.006. Exemption For Certain Small Insurers And Health Maintenance Organizations
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§ 401.006. EXEMPTION FOR CERTAIN SMALL INSURERS AND
HEALTH MAINTENANCE ORGANIZATIONS. (a) An insurer or health
maintenance organization that has less than $1 million in direct
premiums written in this state during a calendar year is exempt from
the requirement to file an audited financial report if the insurer
or health maintenance organization submits an affidavit, made under
oath by one of the insurer's or health maintenance organization's
officers, that specifies the amount of direct premiums written in
this state during that period.
(b) Notwithstanding Subsection (a), the commissioner may
require an insurer or health maintenance organization, other than a
fraternal benefit society that does not have any direct premiums
written in this state for accident and health insurance during a
calendar year, to comply with this subchapter if the commissioner
finds that the insurer's or health maintenance organization's
compliance is necessary for the commissioner to fulfill the
commissioner's statutory responsibilities.
(c) An insurer or health maintenance organization that has
assumed premiums of at least $1 million under reinsurance
agreements is not exempt under Subsection (a).
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 281.051 281.052 401.001 401.002 401.003 401.004 401.005 401.006 401.007 401.008 401.009 401.010 401.011 401.012 401.013
Last modified: August 11, 2007
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