Tex. Ins. Code § 401.004 · Subchapter A. INDEPENDENT AUDIT OF FINANCIAL STATEMENTS
FILING AND EXTENSIONS FOR FILING OF AUDITED FINANCIAL REPORT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Unless exempt under Section 401.006, 401.007, or 401.008 and except as otherwise provided by Sections 401.005 and 401.016, an insurer or health maintenance organization shall:
(1) have an annual audit performed by an accountant; and
(2) file with the commissioner on or before June 30 an audited financial report for the preceding calendar year.
(b) The commissioner may require an insurer or health maintenance organization to file an audited financial report on a date that precedes June 30. The commissioner must notify the insurer or health maintenance organization of the filing date not later than the 90th day before that date.
(c) An insurer or health maintenance organization may request an extension of the filing date by submitting the request in writing before the 10th day preceding the filing date. The request must include sufficient detail for the commissioner to make an informed decision on the requested extension. The commissioner may extend the filing date for one or more 30-day periods if the commissioner determines that there is good cause for the extension based on a showing by the insurer or health maintenance organization and the insurer's or health maintenance organization's accountant of the reasons for requesting the extension.
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.401.htm
- Text hash
- sha256 c4d3170257cfb45add385432da293908b69977620fbf2ad0bb56420ed44d7263
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Insurance Code
- Tex. Ins. Code § 401.005ALTERNATIVE FILING FOR CANADIAN OR BRITISH INSURERS OR HEALTH MAINTENANCE ORGANIZATIONS.Printed as Sections 401.005 and 401.016
- Tex. Ins. Code § 401.006EXEMPTION FOR CERTAIN SMALL INSURERS AND HEALTH MAINTENANCE ORGANIZATIONS.Printed as Section 401.006, 401.007, or 401.008
- Tex. Ins. Code § 401.007EXEMPTION FOR CERTAIN FOREIGN OR ALIEN INSURERS OR HEALTH MAINTENANCE ORGANIZATIONS.Printed as Section 401.006, 401.007, or 401.008
- Tex. Ins. Code § 401.008HARDSHIP EXEMPTION.Printed as Section 401.006, 401.007, or 401.008
- Tex. Ins. Code § 401.016AUDITED COMBINED OR CONSOLIDATED FINANCIAL STATEMENTS.Printed as Sections 401.005 and 401.016
Cited by 4 provisions
Provisions in this library whose text cites Tex. Ins. Code § 401.004. Each shows the citation as that text prints it.
Insurance Code
- Tex. Ins. Code § 401.005ALTERNATIVE FILING FOR CANADIAN OR BRITISH INSURERS OR HEALTH MAINTENANCE ORGANIZATIONS.Printed as Section 401.004
- Tex. Ins. Code § 401.007EXEMPTION FOR CERTAIN FOREIGN OR ALIEN INSURERS OR HEALTH MAINTENANCE ORGANIZATIONS.Printed as Sections 401.004 and 401.019
- Tex. Ins. Code § 401.009CONTENTS OF AUDITED FINANCIAL REPORT.Printed as Section 401.004
- Tex. Ins. Code § 401.013ACCOUNTANT'S LETTER OF QUALIFICATIONS.Printed as Section 401.004
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.