Texas Insurance Code - Section 442.452. Plan And Report Regarding Audit Of Receiver
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§ 442.452. PLAN AND REPORT REGARDING AUDIT OF
RECEIVER. (a) The state auditor may conduct an audit of the
receiver in accordance with the audit plan under Chapter 321,
Government Code. The state auditor shall conduct the audit in the
manner provided by that chapter.
(b) The state auditor's report of an audit under this
section may include:
(1) an analysis of:
(A) the overall performance of the receiver;
(B) the receiver's financial operations and
condition;
(C) the receipts and expenditures made in
connection with each audited receivership;
(D) the adequacy of the receiver's bond in
relation to assets, receipts, and expenditures; and
(E) the feasibility of using attorneys employed
by the receiver in all litigation;
(2) the amount of money made available to the receiver
by a guaranty association in connection with each audited
receivership and a detail of the purpose and manner of expenditure
of the money;
(3) the ratio of the total amount of paid claims to the
total costs incurred in connection with each audited receivership;
and
(4) the ratio of the receiver's administrative
expenses to the total costs incurred in connection with each
audited receivership.
(c) The state auditor shall file:
(1) copies of the auditor's report in the manner
required by Section 321. 014, Government Code; and
(2) an additional copy of the report with the
department.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 442.352 442.401 442.402 442.403 442.404 442.405 442.451 442.452 442.453 442.501 442.502 442.503 442.551 442.552 442.553
Last modified: August 10, 2007
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