Tex. Ins. Code § 401.007 · Subchapter A. INDEPENDENT AUDIT OF FINANCIAL STATEMENTS
EXEMPTION FOR CERTAIN FOREIGN OR ALIEN INSURERS OR HEALTH MAINTENANCE ORGANIZATIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A foreign or alien insurer or health maintenance organization that files an audited financial report in another state in accordance with that state's requirements for audited financial reports may be exempt from filing a report under this subchapter if the commissioner finds that the other state's requirements are substantially similar to the requirements prescribed by this subchapter.
(b) An insurer or health maintenance organization exempt under this section shall file with the commissioner a copy of:
(1) the audited financial report, the report on significant deficiencies in internal controls, and the accountant's letter of qualifications filed with the other state; and
(2) any notification of adverse financial conditions report filed with the other state.
(c) The reports and letter required by Subsection (b)(1) must be filed in accordance with the filing dates prescribed by Sections 401.004 and 401.019. The report required by Subsection (b)(2) must be filed in accordance with the filing date prescribed by Section 401.017.
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 910ea593b71bcc842c4bfbe965809da7db4357bb475a4dc9bdd8de3389552253
- 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 § 401.004FILING AND EXTENSIONS FOR FILING OF AUDITED FINANCIAL REPORT.Printed as Sections 401.004 and 401.019
- Tex. Ins. Code § 401.017NOTICE OF ADVERSE FINANCIAL CONDITION OR MISSTATEMENT OF FINANCIAL CONDITION.Printed as Section 401.017
- Tex. Ins. Code § 401.019REPORT ON SIGNIFICANT DEFICIENCIES IN INTERNAL CONTROL.Printed as Sections 401.004 and 401.019
Cited by 2 provisions
Provisions in this library whose text cites Tex. Ins. Code § 401.007. Each shows the citation as that text prints it.
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