Sec. 401.012. HEARING ON ACCOUNTANT QUALIFICATIONS; REPLACEMENT OF ACCOUNTANT. The commissioner may hold a hearing to determine if an accountant is qualified and independent. If, after considering the evidence presented, the commissioner determines that an accountant is not qualified and independent for purposes of expressing an opinion on the financial statements in an audited financial report filed under this subchapter, the commissioner shall issue an order directing the insurer or health maintenance organization to replace the accountant with a qualified and independent accountant.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.
Structure Texas Statutes
Title 4 - Regulation of Solvency
Subtitle A - General Provisions
Chapter 401 - Audits and Examinations
Subchapter A. Independent Audit of Financial Statements
Section 401.002. Purpose of Subchapter
Section 401.003. Effect of Subchapter on Authority to Examine
Section 401.004. Filing and Extensions for Filing of Audited Financial Report
Section 401.006. Exemption for Certain Small Insurers and Health Maintenance Organizations
Section 401.007. Exemption for Certain Foreign or Alien Insurers or Health Maintenance Organizations
Section 401.008. Hardship Exemption
Section 401.009. Contents of Audited Financial Report
Section 401.010. Requirements for Financial Statements in Audited Financial Report
Section 401.011. Qualifications of Accountant; Acceptance of Audited Financial Report
Section 401.012. Hearing on Accountant Qualifications; Replacement of Accountant
Section 401.013. Accountant's Letter of Qualifications
Section 401.014. Registration of Accountant
Section 401.015. Resignation or Dismissal of Accountant; Statement Concerning Disagreements
Section 401.016. Audited Combined or Consolidated Financial Statements
Section 401.017. Notice of Adverse Financial Condition or Misstatement of Financial Condition
Section 401.018. Information Discovered After Date of Audited Financial Report
Section 401.019. Report on Significant Deficiencies in Internal Control