Section 6.403 - Audited Financial Statements(a) As required in Insurance Code § 964.060(b)(2) and subject to the filing requirements of Insurance Code Chapter 401, Subchapter A, the captive insurance company must file with the department by June 1 of each year, a report of the captive insurance company's financial condition at last year end. The report must include a qualified accountant's opinion of the captive insurance company's financial condition.(b) The opinion must meet the requirements of Insurance Code Chapter 401, Subchapter A, and § 7.85 and § 7.88 of this title (relating to Audited Financial Reports and Independent Audits of Insurer and HMO Financial Statements and Insurer and HMO Internal Control over Financial Reporting).28 Tex. Admin. Code § 6.403
The provisions of this §6.403 adopted to be effective April 27, 2014, 39 TexReg 3232