Texas Insurance Code

§ 401.009 — CONTENTS OF AUDITED FINANCIAL REPORT

IN § 401.009Title 4. REGULATION OF SOLVENCY · Part A. GENERAL PROVISIONS · Ch. 401. AUDITS AND EXAMINATIONS · Art. A. INDEPENDENT AUDIT OF FINANCIAL STATEMENTS

Statute text

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(a)An audited financial report required under Section 401.004 must:

(1)describe the financial condition of the insurer or health maintenance organization as of the end of the most recent calendar year and the results of the insurer's or health maintenance organization's operations, changes in financial position, and changes in capital and surplus for that year;

(2)conform to the statutory accounting practices prescribed or otherwise permitted by the insurance regulator in the insurer's or health maintenance organization's state of domicile; and

(3)include:

(A)the report of an accountant;

(B)a balance sheet that reports admitted assets, liabilities, capital, and surplus;

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Legislative history

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.