reglab/housing_qa huggingface dataset:
TX Ins Code § 401.021 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 401 - Audits and Examinations|Subchapter A. Independent Audit of Financial Statements|Section 401.021. Penalty for Failure to Comply

Sec. 401.021.  PENALTY FOR FAILURE TO COMPLY.  (a)  If an insurer or health maintenance organization fails to comply with this subchapter, the commissioner shall order that the insurer's or health maintenance organization's annual audit be performed by a qualified independent certified public accountant.(b)  The commissioner shall assess against the insurer or health maintenance organization the cost of auditing the insurer's or health maintenance organization's financial statement under this section.(c)  The insurer or health maintenance organization shall pay to the commissioner the amount of the assessment not later than the 30th day after the date the commissioner issues the notice of assessment to the insurer or health maintenance organization.(d)  Money collected under this section shall be deposited to the credit of the Texas Department of Insurance operating account for use by the commissioner and the department to pay the expenses incurred under this subchapter.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 401.051 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 401 - Audits and Examinations|Subchapter B. Examination of Carriers|Section 401.051. Duty to Examine Carriers

Sec. 401.051.  DUTY TO EXAMINE CARRIERS.  (a)  The department or an examiner appointed by the department shall visit at the carrier's principal office:(1)  each carrier that is organized under the laws of this state; and(2)  each other carrier that is authorized to engage in business in this state.(b)  The department or an examiner appointed by the department may visit the carrier for the purpose of investigating the carrier's affairs and condition.  The department or an examiner appointed by the department shall examine the carrier's financial condition and ability to meet the carrier's liabilities and compliance with the laws of this state that affect the conduct of the carrier's business.(c)  The department or an examiner appointed by the department may conduct the visit and examination of a carrier described by Subsection (a)(2) alone or with representatives of the insurance supervising departments of other states.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 401.052 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 401 - Audits and Examinations|Subchapter B. Examination of Carriers|Section 401.052. Frequency of Examination

Sec. 401.052.  FREQUENCY OF EXAMINATION.  (a)  Subject to Subsection (b) and except as provided by the rules adopted under that subsection, the department shall visit and examine a carrier as frequently as the department considers necessary.  At a minimum, the department shall examine a carrier not less frequently than once every five years.(b)  The commissioner shall adopt rules governing the frequency of examinations of carriers that have been organized or incorporated for less than five years.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.Amended by: Acts 2007, 80th Leg., R.S., Ch. 188 (S.B. 1253), Sec. 1, eff. September 1, 2007.|
TX Ins Code § 401.053 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 401 - Audits and Examinations|Subchapter B. Examination of Carriers|Section 401.053. Examination Period

Sec. 401.053.  EXAMINATION PERIOD.  Unless the department requests that an examination cover a longer period, the examination must cover the period beginning on the last day covered by the most recent examination and ending on December 31 of the year preceding the year in which the examination is being conducted.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 401.054 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 401 - Audits and Examinations|Subchapter B. Examination of Carriers|Section 401.054. Powers Related to Examination

Sec. 401.054.  POWERS RELATED TO EXAMINATION.  The department or the examiner appointed by the department:(1)  has free access, and may require the carrier or the carrier's agent to provide free access, to all books and papers of the carrier or the carrier's agent that relate to the carrier's business and affairs; and(2)  has the authority to summon and examine under oath, if necessary, an officer, agent, or employee of the carrier or any other person in relation to the carrier's affairs and condition.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 401.055 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 401 - Audits and Examinations|Subchapter B. Examination of Carriers|Section 401.055. Effect of Subchapter on Authority to Use Information

Sec. 401.055.  EFFECT OF SUBCHAPTER ON AUTHORITY TO USE INFORMATION.  This subchapter does not limit the commissioner's authority to use a final or preliminary examination report, an examiner's or company's work papers or other documents, or any other information discovered or developed during an examination in connection with a legal or regulatory action that the commissioner, in the commissioner's sole discretion, considers appropriate.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 401.056 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 401 - Audits and Examinations|Subchapter B. Examination of Carriers|Section 401.056. Rules Related to Reports and Hearings

Sec. 401.056.  RULES RELATED TO REPORTS AND HEARINGS.  The commissioner by rule shall adopt:(1)  procedures governing the filing and adoption of an examination report;(2)  procedures governing a hearing to be held under this subchapter; and(3)  guidelines governing an order issued under this subchapter.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 401.057 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 401 - Audits and Examinations|Subchapter B. Examination of Carriers|Section 401.057. Use of Audit and Work Papers

Sec. 401.057.  USE OF AUDIT AND WORK PAPERS.  (a)  In this section, "work papers" has the meaning assigned by Section 401.020(a).(b)  In conducting an examination under this subchapter, the department shall use audits and work papers that the carrier makes available to the department and that are prepared by an accountant or accounting firm meeting the qualifications of Section 401.011.  The department may conduct a separate audit of the carrier if necessary.  Work papers developed in the audit shall be maintained in the manner provided by Sections 401.020(b) and (c).(c)  The carrier shall provide the department with:(1)  the work papers of an accountant or accounting firm or the carrier; and(2)  a record of any communications between the accountant or accounting firm and the carrier that relate to an audit.(d)  The accountant or accounting firm shall deliver the information described by Subsection (c) to the examiner.  The examiner shall retain the information during the department's examination of the carrier.(e)  Information obtained under this section is confidential and may not be disclosed to the public except when introduced as evidence in a hearing.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 401.058 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 401 - Audits and Examinations|Subchapter B. Examination of Carriers|Section 401.058. Confidentiality of Reports and Related Information

Sec. 401.058.  CONFIDENTIALITY OF REPORTS AND RELATED INFORMATION.  (a)  A final or preliminary examination report and any information obtained during an examination are confidential and privileged for all purposes.  This information is not subject to:(1)  disclosure under Chapter 552, Government Code;(2)  a subpoena, other than a grand jury subpoena; or(3)  discovery or admissibility in evidence in a civil action.(b)  Subsection (a) applies if the examined carrier is under supervision or conservatorship.  Subsection (a) does not apply to an examination conducted in connection with a liquidation or receivership under this code or another insurance law of this state.(c)  Subsection (a) does not limit the commissioner's authority to use a final or preliminary examination report and any information obtained during an examination in the furtherance of any legal or regulatory action relating to the administration of this code that the commissioner, in the commissioner's sole discretion, considers appropriate.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.Amended by: Acts 2017, 85th Leg., R.S., Ch. 164 (H.B. 2437), Sec. 1, eff. May 26, 2017.|
TX Ins Code § 401.059 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 401 - Audits and Examinations|Subchapter B. Examination of Carriers|Section 401.059. Determination of Value

Sec. 401.059.  DETERMINATION OF VALUE.  In determining the value or market value of an investment in or on real estate or an improvement to real estate by a carrier authorized to engage in business in this state, the department, in administering this code, may consider any factor or matter that the department considers proper and material, including:(1)  an appraisal by a real estate board or other qualified person;(2)  an affidavit by another person familiar with those  values;(3)  a  tax valuation;(4)  the cost of acquisition after deducting for depreciation and obsolescence;(5)  the cost of replacement;(6)  sales of other comparable property;(7)  enhancement in value from any cause;(8)  income received or to be received; and(9)  any improvements made.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 401.060 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 401 - Audits and Examinations|Subchapter B. Examination of Carriers|Section 401.060. Right to Information Relating to Determination of Value or Market Value

Sec. 401.060.  RIGHT TO INFORMATION RELATING TO DETERMINATION OF VALUE OR MARKET VALUE.  (a)  If the department determines the value or market value of an insurer's investment in or on real estate or an improvement to real estate, the insurer is entitled to make a written request for a written finding by the commissioner in relation to that determination.(b)  Not later than the 10th day after the date the commissioner receives a request under Subsection (a), the commissioner shall enter a  written order or finding that:(1)  states separately the department's findings on  each factor or matter on which the department relied in making the determination; and(2)  includes the name and address of each person who provided evidence relating to a factor or matter on which the department relied in making the determination.(c)  The commissioner shall provide to the insurer that requested a written finding under this section a copy of the finding or order.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 401.061 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 401 - Audits and Examinations|Subchapter B. Examination of Carriers|Section 401.061. Disciplinary Action for Failure to Comply With Subchapter

Sec. 401.061.  DISCIPLINARY ACTION FOR FAILURE TO COMPLY WITH SUBCHAPTER.  A carrier is subject to disciplinary action under Chapter 82 if the carrier or the carrier's agent fails or refuses to comply with:(1)  this subchapter or a rule adopted under this subchapter; or(2)  a request by the department or an appointed examiner to be examined or to provide information requested as part of an examination.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 401.062 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 401 - Audits and Examinations|Subchapter B. Examination of Carriers|Section 401.062. Stay of Rule, Order, Decision, or Finding

Sec. 401.062.  STAY OF RULE, ORDER, DECISION, OR FINDING.  The filing of a petition under Subchapter D, Chapter 36, for judicial review of a rule, order, decision, or finding of the commissioner or department under this subchapter operates as a stay of the rule, order, decision, or finding until the court directs otherwise.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 401.101 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 401 - Audits and Examinations|Subchapter C. Examiners and Actuaries|Section 401.101. Use of Department Examiner or Other Qualified Person or Firm

Sec. 401.101.  USE OF DEPARTMENT EXAMINER OR OTHER QUALIFIED PERSON OR FIRM.  The department may use a salaried department examiner or may appoint a qualified person or firm to perform an examination of an insurance organization as provided by law or to assist in the performance of an examination.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 401.102 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 401 - Audits and Examinations|Subchapter C. Examiners and Actuaries|Section 401.102. Legislative Intent as to Appointment or Employment of Examiners and Actuaries

Sec. 401.102.  LEGISLATIVE INTENT AS TO APPOINTMENT OR EMPLOYMENT OF EXAMINERS AND ACTUARIES.  (a)  The legislature recognizes that experienced, highly qualified examiners and actuaries are necessary for the department to effectively monitor and regulate the solvency of insurers in this state.  It is the intent of the legislature that the department, in appointing or employing an examiner or actuary, select a person who:(1)  has substantial experience in financial matters relating to insurance or other areas of financial activity that are compatible with the business of insurance; and(2)  is recognized for the outstanding quality of the person's work in relation to areas of responsibility typically assigned to an examiner or actuary in the insurance field.(b)  The legislature pledges to provide to the department the necessary funding to implement this section and to support the department in the department's efforts to attract the highly qualified persons necessary to fulfill regulatory responsibilities relating to insurer solvency assigned to those persons under the insurance laws of this state.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 401.103 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 401 - Audits and Examinations|Subchapter C. Examiners and Actuaries|Section 401.103. Appointment of Examiners and Actuaries

Sec. 401.103.  APPOINTMENT OF EXAMINERS AND ACTUARIES.  (a)  The department shall appoint:(1)  a chief examiner and the number of assistant examiners the department considers necessary to conduct examinations of insurance companies, corporations, and associations at the expense of the insurance company, corporation, or association as provided by law; and(2)  the number of actuaries the department considers necessary to:(A)  advise the department in connection with the performance of the department's duties; and(B)  otherwise aid and counsel the department in connection with the examinations.(b)  The department may increase or decrease the number of  examiners or actuaries as needed for examination duties.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 401.104 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 401 - Audits and Examinations|Subchapter C. Examiners and Actuaries|Section 401.104. Appointment of Examiners, Actuaries, and Other Persons for Certain Examinations

Sec. 401.104.  APPOINTMENT OF EXAMINERS, ACTUARIES, AND OTHER PERSONS FOR CERTAIN EXAMINATIONS.  (a)  The department may  commission a department actuary, the chief examiner, another department examiner or employee, or any other person to conduct or assist in the examination of a company that is not organized under the laws of this state.(b)  The department may compensate a person described by Subsection (a).  If the department compensates the person, the person may not receive any other compensation while the person is assigned to the examination.(c)  Except as provided by this section and Section 401.152, a department actuary or examiner may not continue to serve in that capacity if the person directly or indirectly accepts employment or compensation for a service rendered or to be rendered from any insurance company for any reason.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 401.105 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 401 - Audits and Examinations|Subchapter C. Examiners and Actuaries|Section 401.105. Oath of Examiners and Assistants

Sec. 401.105.  OATH OF EXAMINERS AND ASSISTANTS.  Before entering into the duties of appointment as an examiner or assistant examiner, an individual must take and file in the office of the secretary of state an oath to:(1)  support the constitution of this state;(2)  faithfully conduct the individual's duties of office;(3)  make fair and impartial examinations;(4)  not accept, directly or indirectly, as a gift or emolument any pay for the discharge of the individual's duty, other than the compensation to which the individual is entitled by law; and(5)  not reveal the condition of a corporation, firm, or person or any information secured while examining a corporation, firm, or person to anyone other than:(A)  the department or an authorized representative of the department; or(B)  as required when testifying in an administrative hearing under this code or another insurance law of this state or in court.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 401.106 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 401 - Audits and Examinations|Subchapter C. Examiners and Actuaries|Section 401.106. Right of Action on Bond

Sec. 401.106.  RIGHT OF ACTION ON BOND.  If an examiner or assistant examiner knowingly makes a false report or gives any information in violation of law that relates to an examination of a corporation, firm, or person, the corporation, firm, or person has a right of action on a bond authorized under Chapter 653, Government Code, for the entity's injuries in a suit brought in the name of the state at the relation of the entity.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 401.107 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 401 - Audits and Examinations|Subchapter C. Examiners and Actuaries|Section 401.107. Registration of Contract Examiners

Sec. 401.107.  REGISTRATION OF CONTRACT EXAMINERS.  (a)  A person with whom another state contracts to perform any examination initiated by the other state of an insurer domiciled in this state shall register with and provide the following information to the department's chief examiner:(1)  the person's name;(2)  if the person is not an individual, the identity of each examiner or other person who will perform any part of the examination;(3)  the name of the state that contracted with the person;(4)  the identity of the insurer to be examined;(5)  a description of each issue that the person has been contracted to examine;(6)  an estimate of the examination costs to be charged to the insurer to be examined;(7)  a copy of any contract between the person and the state regulatory body that initiated the examination and a letter authorizing the examination; and(8)  a list of the previous examinations conducted on the same insurer on behalf of any state within the last three years.(a-1)  On accepting a person's registration under Subsection (a), the department shall send written confirmation of the acceptance to:(1)  the person;(2)  the insurer to be examined; and(3)  the state regulatory body that initiated the examination.(b)  It is a violation of this code for a person to accept compensation from multiple states for the same examination, if doing so results in duplicative costs to the insurer being examined.  It is not a violation of this code for:(1)  an examiner to conduct an examination of an insurer for the benefit of multiple states in a coordinated examination; and(2)  the examiner to accept compensation from the states participating in the coordinated examination to reduce the examination costs to the insurer being examined.|Added by Acts 2009, 81st Leg., R.S., Ch. 1030 (H.B. 4359), Sec. 2, eff. June 19, 2009.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 185 (S.B. 1229), Sec. 1, eff. May 28, 2011.|
TX Ins Code § 401.151 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 401 - Audits and Examinations|Subchapter D. Examination Expenses|Section 401.151. Expenses of Examination of Domestic Insurer

Sec. 401.151.  EXPENSES OF EXAMINATION OF DOMESTIC INSURER.  (a)  A domestic insurer examined on behalf of this state by the department or under the department's authority shall pay the expenses of the examination in an amount the commissioner certifies as just and reasonable.(b)  The department shall collect an assessment at the time of the examination to cover all expenses attributable directly to that examination, including:(1)  the salaries and expenses of department employees; and(2)  expenses described by Section 803.007.(c)  The department shall also impose an annual assessment on domestic insurers in an amount sufficient to meet all other expenses and disbursements necessary to comply with the laws of this state relating to the examination of insurers.(d)  In determining the amount of the assessment under Subsection (c), the department:(1)  shall consider:(A)  the insurer's total annual premium receipts or admitted assets, or both, that are not attributable to 90 percent of pension plan contracts as defined by Section 818(a), Internal Revenue Code of 1986; or(B)  the total amount of the insurer's insurance in force; and(2)  may not consider insurance premiums for insurance contracted for by a state or federal governmental entity to provide welfare benefits to designated welfare recipients or contracted for in accordance with or in furtherance of Title 2, Human Resources Code, or the federal Social Security Act (42 U.S.C. Section 301 et seq.).(e)  The amount of all examination and evaluation fees paid to the state by an insurer in each taxable year shall be allowed as a credit on the amount of premium taxes due.(f)  Expired.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.Amended by: Acts 2007, 80th Leg., R.S., Ch. 932 (H.B. 3315), Sec. 17, eff. June 15, 2007.Acts 2011, 82nd Leg., R.S., Ch. 659 (S.B. 1291), Sec. 2, eff. September 1, 2011.Acts 2011, 82nd Leg., 1st C.S., Ch. 4 (S.B. 1), Sec. 2.04, eff. September 28, 2011.|