28 TAC §7.65
The Commissioner of Insurance adopts the repeal of §7.65 concerning the 1995 annual statement and 1996 quarterly statements, other reporting forms, and diskettes necessary to report information concerning the financial condition and business operations and activities of insurers and other entities regulated by the department. The repeal of the section is adopted without changes to the proposal as published in the June 14, 2002 issue of the Texas Register (27 TexReg 5064) and will not be republished.
The repeal of the section is necessary to permit the simultaneous adoption of a new §7.65 that is published elsewhere in this issue of the Texas Register. The new §7.65 adopts by reference the 2002 annual and quarterly statement blanks, other reporting forms, electronic data filings with the National Association of Insurance Commissioners via the Internet and instructions to be used by insurers and certain other entities regulated by the Texas Department of Insurance when reporting their financial condition and business operations and activities of the 2002 calendar year.
The repeal of the section will eliminate an obsolete section. The reporting forms adopted under the repealed section have been filed and the due dates for filing the 1995 annual statements, 1996 quarterly statements and other reports have passed, therefore the repealed section is no longer necessary.
No comments were received.
The repeal of the section is adopted under the Insurance Code Article 1.11 and §36.001. Article 1.11 authorizes the commissioner to make changes in the forms of the annual statements required of insurance companies of any kind, as shall seem best adapted to elicit a true exhibit of their condition and methods of transacting business. Section 36.001 provides that the commissioner may adopt rules for the conduct and execution of the duties and functions of the department as authorized by statute for general and uniform application.
§7.65. Requirements for Filing the 1995 Annual Statement and 1996 Quarterly Statements, Other Reporting Forms, and Diskettes.