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Terms Used In Texas Insurance Code 463.110

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Year: means 12 consecutive months. See Texas Government Code 311.005

Not later than the 120th day after the last day of each association fiscal year, the board shall submit to the commissioner:
(1) a financial report in a form approved by the commissioner; and
(2) a report of the association’s activities during the preceding fiscal year.