| (5) Unless the commissioner permits otherwise, the
annual financial statements must be accompanied by the certificate
of an independent public accountant to the effect that the statements
present fairly the financial position of the ultimate controlling
person and the results of its operations for the year then ended,
in conformity with generally accepted accounting principles or with
requirements of insurance or other accounting principles prescribed
or permitted under law. If the ultimate controlling person is an insurer
actively engaged in the business of insurance, the annual financial
statements need not be certified, provided they are based on the Annual
Statement of the insurer's domiciliary state and are in accord with
requirements of insurance or other accounting principles prescribed
or permitted under the law and regulations of that state.
(6) Unless the commissioner permits otherwise, any
ultimate controlling person who is an individual may file personal
financial statements that are reviewed rather than audited by an independent
public accountant. The review must be conducted in accord with standards
for review of personal financial statements as issued by the American
Institute of Certified Public Accountants. Personal financial statements
must be accompanied by the independent public accountant's Standard
Review Report stating that the accountant is not aware of any material
modifications that should be made to the financial statements for
the statements to be in conformity with generally accepted accounting
principles.
(7) Exhibits must include copies of the latest annual
reports to shareholders of the ultimate controlling person, proxy
material used by the ultimate controlling person, and any additional
documents or papers required by regulation.
(j) Form C required. A Form C, Summary of Changes to
Registration Statement, must be prepared and filed with this Form
B.
(k) Signature and certification. Furnish signature
and certification of the following form:
Attached Graphic
|
| Source Note: The provisions of this §7.210 adopted to be effective January 1, 1976; amended to be effective November 30, 1984, 9 TexReg 5926; amended to be effective April 29, 1988, 13 TexReg 1761; amended to be effective April 13, 1992, 17 TexReg 2273; amended to be effective December 24, 1993, 18 TexReg 9310; amended to be effective July 14, 1994, 19 TexReg 5098; amended to be effective May 5, 2002, 27 TexReg 3559; amended to be effective May 26, 2013, 38 TexReg 3033 |
