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You are here: Home . rules . 2002 . 765repeal
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Subchapter A. Examination and Financial Analysis

28 TAC §7.65

The Texas Department of Insurance proposes 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 section is proposed for repeal to facilitate the proposal of a new §7.65 concerning 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 department is proposing the new §7.65 which appears elsewhere in this issue of the Texas Register.

Betty Patterson, CPA, AFE, Senior Associate Commissioner, Financial Program has determined that, for the first five-year period the repeal of the section will be in effect, there will be no fiscal implications for state or local government as a result of enforcing or administering the repeal, and there will be no effect on local employment or local economy.

Ms. Patterson also has determined that, for each year of the first five years the repeal of the section will be in effect, the public benefit anticipated as a result of the repeal of the section will be the elimination of obsolete regulations. There will be no economic cost to persons who are required to comply with the repeal as proposed.

To be considered, written comments on the proposal must be submitted no later than 5:00 p.m. on July 15, 2002 to Lynda H. Nesenholtz, General Counsel and Chief Clerk, Mail Code 113-2A, Texas Department of Insurance, P.O. Box 149104, Austin, Texas 78714-9104. An additional copy of the comments should be submitted to Betty Patterson, CPA, AFE, Senior Associate Commissioner, Financial Program, Mail Code 305-2A, Texas Department of Insurance, P.O. Box 149099, Austin, Texas 78714-9099. A request for a public hearing should be submitted separately to the Office of the Chief Clerk.

The repeal of the section is proposed 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.

The following articles and section of the Insurance Code will be affected by this proposed repeal: Articles 1.11, 3.07, 3.20-1, 3.27-2, 3.77, 6.11, 6.12, 8.07, 8.08, 8.21, 8.24, 9.22, 9.47, 10.30, 11.06, 11.19, 14.15, 14.39, 15.15, 15.16, 16.18, 16.24, 17.22, 17.25, 18.12, 19.08, 20.02, 20A.10, 20A.22, 21.39, 21.43, 21.49, 21.52F, 21.54, 22.06, 23.02 and 23.26, and §32.041.

§7.65. Requirements for Filing the 1995 Annual Statement and 1996 Quarterly Statements, Other Reporting Forms, and Diskettes.



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