TITLE: Relating to an annual earnings and profit report by insurance companies and health maintenance organizations.

SUMMARY: Relating to an annual earnings and profit report by insurance companies and health maintenance organizations.

FULL TEXT:
AN ACT relating to an annual earnings and profit report by insurance companies and health maintenance organizations. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. The heading to Chapter 802, Insurance Code, is amended to read as follows: CHAPTER 802. ANNUAL STATEMENT AND REPORT SECTION 2. The heading to Subchapter A, Chapter 802, Insurance Code, is amended to read as follows: SUBCHAPTER A. ANNUAL STATEMENT AND REPORT OF INSURANCE COMPANIES AND HEALTH MAINTENANCE ORGANIZATIONS SECTION 3. Subchapter A, Chapter 802, Insurance Code, is amended by adding Section 802.004 to read as follows: Sec. 802.004. ANNUAL REPORT TO COMPTROLLER. In addition to any other statement required by this code and not later than March 1 of each year, an insurer or health maintenance organization shall file an annual report with the comptroller stating the insurer's or health maintenance organization's earnings and profit for the preceding calendar year, derived from the information filed in the tax report required under Title 3. SECTION 4. This Act takes effect September 1, 2017.