CHAPTER 802. ANNUAL STATEMENT - Texas Statutes

INSURANCE CODE

TITLE 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES

SUBTITLE A. GENERAL PROVISIONS APPLICABLE TO INSURERS AND RELATED

ENTITIES

CHAPTER 802. ANNUAL STATEMENT

SUBCHAPTER A. ANNUAL STATEMENT OF INSURANCE COMPANIES

Sec. 802.001. FORM OF ANNUAL STATEMENT. (a) The commissioner,

as necessary to obtain an accurate indication of the company's

condition and method of transacting business, may change the form

of any annual statement required to be filed by any kind of

insurance company.

(b) The form may require only information that relates to the

business of the insurance company.

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1,

2003.

Sec. 802.002. ACTUARIAL OPINION REQUIRED. (a) In this section,

"qualified actuary" means:

(1) a member in good standing of the American Academy of

Actuaries; or

(2) a person who has otherwise demonstrated actuarial competence

to the satisfaction of the commissioner or an insurance

regulatory official of another state in which the insurance

company is domiciled.

(b) An insurance company's annual statement must include a

statement of a qualified actuary entitled "Statement of Actuarial

Opinion" that:

(1) is located on or is attached to the first page of the annual

statement; and

(2) provides the opinion of the actuary relating to policy

reserves and other actuarial items for life insurance, accident

and health insurance, and annuities, or loss and loss adjustment

expense reserves for property and casualty risks, as described in

the annual statement instructions of the National Association of

Insurance Commissioners as appropriate for the type of risks

insured.

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1,

2003.

Sec. 802.003. FILING DATE OF ANNUAL STATEMENT DELIVERED BY

POSTAL SERVICE. Except as otherwise specifically provided, for

an annual statement that is required to be filed in the offices

of the commissioner and that is delivered by the United States

Postal Service to the offices of the commissioner after the date

on which the annual statement is required to be filed, the date

of filing is the date of:

(1) the postal service postmark stamped on the cover in which

the document is mailed; or

(2) any other evidence of mailing authorized by the postal

service reflected on the cover in which the document is mailed.

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1,

2003. Amended by Acts 2003, 78th Leg., ch. 1276, Sec. 10A.201,

eff. Sept. 1, 2003.

SUBCHAPTER B. FILING WITH NATIONAL ASSOCIATION OF INSURANCE

COMMISSIONERS

Sec. 802.051. APPLICABILITY OF SUBCHAPTER. This subchapter

applies to each company regulated by the commissioner, including:

(1) a stock life, health, or accident insurance company;

(2) a mutual life, health, or accident insurance company;

(3) a stock fire or casualty insurance company;

(4) a mutual fire or casualty insurance company;

(5) a Mexican casualty company;

(6) a Lloyd's plan;

(7) a reciprocal or interinsurance exchange;

(8) a fraternal benefit society;

(9) a title insurance company;

(10) an attorney's title insurance company;

(11) a stipulated premium insurance company;

(12) a nonprofit legal service corporation;

(13) a health maintenance organization;

(14) a statewide mutual assessment company;

(15) a local mutual aid association;

(16) a local mutual burial association;

(17) an association exempt under Section 887.102;

(18) a nonprofit hospital, medical, or dental service

corporation, including a company subject to Chapter 842;

(19) a county mutual insurance company; and

(20) a farm mutual insurance company.

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1,

2003.

Sec. 802.052. CONCURRENT FILING WITH NATIONAL ASSOCIATION OF

INSURANCE COMMISSIONERS. (a) Each domestic, foreign, or alien

insurance company authorized to engage in the business of

insurance in this state shall file a copy of the company's annual

statement with the National Association of Insurance

Commissioners at the time the company files the statement with

the commissioner.

(b) The statement required by Subsection (a) must:

(1) meet requirements adopted by the commissioner, including:

(A) a change in substance or form;

(B) an additional filing; and

(C) any requirement that the statement be in a computer

compatible format; and

(2) include the signed jurat page and the actuarial opinion, as

required by the jurisdiction in which the insurance company is

domiciled.

(c) The insurance company shall also file with the National

Association of Insurance Commissioners a copy of any amendment or

addition to the annual statement that is subsequently filed with

the commissioner.

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1,

2003.

Sec. 802.053. EXEMPTION AUTHORITY. The commissioner may exempt

any class of insurance companies from the requirements of this

subchapter if the commissioner believes the information required

under this subchapter will not be useful for regulatory purposes.

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1,

2003.

Sec. 802.054. COMPLIANCE. The commissioner may consider a

foreign insurance company to be in compliance with the

requirements of Section 802.052 if the company is domiciled in a

state with a law substantially similar to that section.

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1,

2003.

Sec. 802.055. COSTS PAID BY INSURANCE COMPANY. An insurance

company shall pay all costs of preparing and furnishing to the

National Association of Insurance Commissioners the information

required under Section 802.052, including any related filing

fees.

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1,

2003. Amended by Acts 2003, 78th Leg., ch. 206, Sec. 17.01, eff.

June 11, 2003; Acts 2003, 78th Leg., ch. 211, Sec. 2.04, eff.

June 16, 2003; Acts 2003, 78th Leg., ch. 863, Sec. 1, eff. June

20, 2003.

Sec. 802.056. STATUS OF REPORTS AND OTHER INFORMATION. A report

or any other information resulting from the collection, review,

analysis, and distribution of information developed from the

filing of annual statement convention blanks and provided to the

department by the National Association of Insurance Commissioners

is considered part of the process of examination of insurance

companies under this code, including Chapters 86 and 401.

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1,

2003.

Amended by:

Acts 2007, 80th Leg., R.S., Ch.

730, Sec. 2E.001, eff. April 1, 2009.