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)  a stipulated premium insurance company;
(11)  a nonprofit legal service corporation;
(12)  a health maintenance organization;
(13)  a statewide mutual assessment company;
(14)  a local mutual aid association;
(15)  a local mutual burial association;
(16)  an association exempt under Section 887.102;
(17)  a nonprofit hospital, medical, or dental service corporation, including a company subject to Chapter 842;
(18)  a county mutual insurance company; and
(19)  a farm mutual insurance company.


Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Amended by: 
Acts 2017, 85th Leg., R.S., Ch. 967 (S.B. 2065), Sec. 5.006, eff. September 1, 2017.



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 (H.B. 2636), Sec. 2E.001, eff. April 1, 2009.