Sec. 4152.210. AUDITED STATEMENT OF MANAGER'S FINANCIAL CONDITION. (a) A manager shall provide annually to each insurer and reinsurer with whom the manager transacts business an audited statement of the manager's financial condition.
(b) The statement must be prepared by an independent certified public accountant in a form acceptable to the commissioner.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
Structure Texas Statutes
Title 13 - Regulation of Professionals
Subtitle D - Other Professionals
Chapter 4152 - Reinsurance Intermediaries
Subchapter E. Requirements Relating to Managers
Section 4152.201. Contract Between Manager and Insurer
Section 4152.202. Termination of Contract
Section 4152.203. Accounting for Transactions
Section 4152.204. Management of Money
Section 4152.205. Transaction Records
Section 4152.206. Contract Assignment Prohibited
Section 4152.207. Compliance With Underwriting and Rating Standards of Insurer
Section 4152.208. Settlement of Claims
Section 4152.209. Payment of Interim Profits
Section 4152.210. Audited Statement of Manager's Financial Condition
Section 4152.211. Disclosure of Relationships With Other Insurers
Section 4152.212. Acts of Manager Considered Acts of Insurer
Section 4152.213. Actuary's Opinion on Adequacy of Loss Reserves
Section 4152.214. Placement of Reinsurance With Unauthorized Reinsurer
Section 4152.215. Prohibitions
Section 4152.216. Employment of Person by Insurer and Manager