TITLE: Relating to availability of audited financial reports of insurance companies on the Texas Department of Insurance website.

SUMMARY: Relating to availability of audited financial reports of insurance companies on the Texas Department of Insurance website.

FULL TEXT:
AN ACT relating to availability of audited financial reports of insurance companies on the Texas Department of Insurance website. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Subchapter A, Chapter 401, Insurance Code, is amended by adding Section 401.0041 to read as follows: Sec. 401.0041. INTERNET ACCESS TO AUDITED FINANCIAL REPORTS. (a) The department shall post on the department's Internet website each audited financial report filed under Section 401.004. (b) The reports submitted under Subsection (a) must remain on the department's Internet website until at least the third anniversary of the date the report is submitted. SECTION 2. Section 401.0041, Insurance Code, as added by this Act, applies only to audited financial reports filed on or after the effective date of this Act. SECTION 3. This Act takes effect September 1, 2017.