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Terms Used In Texas Insurance Code 2054.205

  • 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.

The board shall:
(1) publish an independently audited report analyzing the company’s activities and fiscal condition during the preceding fiscal year; and
(2) file the audited report with the department for submission simultaneously with its annual financial report.