Sec. 823.306. USE OF UNAUDITED INFORMATION. If an affiliate is valued using the basis provided by Section 823.302(2)(A) and the books of the affiliate are not audited at the time the valuation is included in the insurer's annual statement, the insurer, as soon as possible after an audit of those books, shall report and explain any difference between the value of the affiliate reported in the insurer's annual statement and the value determined by the audit.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Structure Texas Statutes
Title 6 - Organization of Insurers and Related Entities
Subtitle B - Organization of Regulated Entities
Chapter 823 - Insurance Holding Company Systems
Subchapter G. Valuation of Investment for Financial Statement
Section 823.301. Scope of Subchapter
Section 823.302. Bases for Determining Valuation
Section 823.303. Adjustment to Determination
Section 823.304. Use of Different Bases
Section 823.305. Valuating Acquired Affiliate