| (a) On at least a calendar year basis, each network
must prepare financial statements in accordance with generally accepted
accounting principles, which must include:
(1) a balance sheet;
(2) an income statement;
(3) a cash flow statement;
(4) a statement of equity; and
(5) a supplemental description of the network's basic
organizational structure, general business relationships, and management.
(b) On or before April 1st of each year, each network
must provide the network's financial statement required by subsection
(a) of this section to:
(1) each carrier with which the network contracts to
facilitate carrier and network compliance under Insurance Code §1305.154(c),
concerning Network-Carrier Contracts; and §1305.155, concerning
Compliance Requirements; and §10.41 of this title (relating to
Network-Carrier Contracts); and
(2) the department by sending the financial statement
to the department's workers' compensation network email address.
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