Texas Insurance Code

§ 887.059 — BOOKS AND RECORDS

IN § 887.059Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES · Ch. 887. PROVISIONS APPLICABLE TO CERTAIN MUTUAL ASSESSMENT COMPANIES · Art. B. GENERAL POWERS AND DUTIES; OFFICERS AND DIRECTORS

Statute text

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(a)An association shall keep the association's books and records in a form and manner that:

(1)accurately reflects the condition of the association or the facts essential to the association's faithful and effective operation; and

(2)is acceptable to the department.

(b)The association shall adopt forms or systems that are acceptable to the department and will most effectively serve the purpose described by Subsection (a)(1).

Legislative history

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