(a) An insurer or health maintenance organization that has less than $1 million in
direct premiums written in this state during a calendar year is exempt from the requirement
to file an audited financial report if the insurer or health maintenance organization
submits an affidavit, made under oath by one of the insurer's or health maintenance
organization's officers, that specifies the amount of direct premiums written in this
state during that period.
(b) Notwithstanding Subsection (a), the commissioner may require an insurer or health
maintenance organization, other than a fraternal benefit society that does not have
any direct premiums written in this state for accident and health insurance during
a calendar year, to comply with this subchapter if the commissioner finds that the
insurer's or health maintenance organization's compliance is necessary for the commissioner
to fulfill the commissioner's statutory responsibilities.
(c) An insurer or health maintenance organization that has assumed premiums of at
least $1 million under reinsurance agreements is not exempt under Subsection (a).
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