Texas Insurance Code
§ 964.060 — ANNUAL REPORT
IN § 964.060Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part H. OTHER ENTITIES · Ch. 964. CAPTIVE INSURANCE COMPANIES · Art. B. CAPTIVE INSURANCE COMPANIES
Statute text
View on source(a)A captive insurance company holding a certificate of authority under this chapter is not required to file a report, except as provided by this section, Chapter 223A, and Subtitle C, Title 3.
(b)A captive insurance company that holds a certificate of authority to engage in captive insurance business in this state shall file with the commissioner:
(1)on or before March 1 of each year, a statement of the company's financial condition, verified by two of its executive officers and filed in a format prescribed by the commissioner; and
(2)on or before June 1 of each year, a report of its financial condition at last year-end with an independent certified public accountant's opinion of the company's financial condition.
(c)A captive insurance company may make a written application to the commissioner for filing its annual report required under this section on a fiscal year-end. If an alternative filing date is granted, the company shall file:
(1)the annual report not later than the 60th day after the date of the company's fiscal year-end;
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Legislative history
Acts 2017, 85th Leg., R.S., Ch. 1050 (H.B. 1944), Sec. 1.10, eff. June 15, 2017.