Texas Insurance Code 823.055 – Annual Registration Statement; Summary of Material Changes
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(a) In this section, “ultimate controlling person” means the person in an insurance holding company system who is not controlled by another person.
(b) Not later than the 120th day after the last day of each fiscal year of the ultimate controlling person, each registered insurer in the ultimate controlling person’s insurance holding company system shall file an annual registration statement.
Terms Used In Texas Insurance Code 823.055
- 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.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Rule: includes regulation. See Texas Government Code 311.005
- Year: means 12 consecutive months. See Texas Government Code 311.005
(c) An insurer required to file an annual registration statement shall also furnish a summary of material changes from the prior year‘s annual registration statement as specified by the commissioner by rule.