Texas Insurance Code

§ 823.203 — FINANCIAL INFORMATION ABOUT ACQUIRING PERSON

IN § 823.203Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part B. ORGANIZATION OF REGULATED ENTITIES · Ch. 823. INSURANCE HOLDING COMPANY SYSTEMS · Art. E. ACQUISITION STATEMENT

Statute text

View on source

(a)A statement required under Section 823.154 must contain:

(1)fully audited financial information about the earnings and financial condition of the acquiring person for the preceding three fiscal years or, if the acquiring person and any predecessors of the acquiring person have been in existence for less than three fiscal years, for that shorter period; and

(2)similar unaudited financial information about the earnings and financial condition of the acquiring person as of a date not earlier than the 120th day preceding the date the statement is filed.

(b)The statement must be accompanied by an affidavit or certification of the chief financial officer of the acquiring person stating that:

(1)the unaudited financial information provided under Subsection (a) is true and correct, as of its date; and

(2)a material change in financial condition, as determined under Section 823.054, did not occur during the period beginning on the date of that information and ending on the date of the affidavit or certification.

…

Legislative history

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.