Tex. Ins. Code Section 401.252
Self-directed Budget

(a)

The senior associate commissioner of the financial program shall submit to the commissioner an annual budget of examination costs using generally accepted accounting principles. Notwithstanding any other provision of law, the budget may be adopted and approved only by the commissioner. The commissioner shall approve a budget under this subsection not later than August 31 of the year in which the associate commissioner submits the budget to the commissioner.

(b)

The financial program may not directly or indirectly cause the Texas Department of Insurance operating account to incur any examination cost.

(c)

Subject to any limitations in this code or another insurance law of this state, the department may set the amounts of fees required or permitted by statute or rule as necessary to:

(1)

carry out the functions of the financial examinations and actuarial divisions relating to the examination of insurers and other regulated entities; and

(2)

fund the budget adopted and approved under this section.

(d)

Notwithstanding this section, the financial program may receive funds appropriated from the state to fund costs other than examination costs.

(e)

An assessment, fee, charge, or other source of revenue collected by the financial program relating to the examination of insurers and other regulated entities by the financial examinations division or actuarial division shall be deposited to the credit of the account described by Section 401.156 (Deposit and Use of Assessment and Fee)(a) for the purposes described by that section.
Added by Acts 2011, 82nd Leg., R.S., Ch. 659 (S.B. 1291), Sec. 1, eff. September 1, 2011.

Source: Section 401.252 — Self-directed Budget, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­401.­htm#401.­252 (accessed Apr. 20, 2024).

401.001
Definitions 401.002
Purpose of Subchapter 401.003
Effect of Subchapter on Authority to Examine 401.004
Filing and Extensions for Filing of Audited Financial Report 401.005
Alternative Filing for Canadian or British Insurers or Health Maintenance Organizations 401.006
Exemption for Certain Small Insurers and Health Maintenance Organizations 401.007
Exemption for Certain Foreign or Alien Insurers or Health Maintenance Organizations 401.008
Hardship Exemption 401.009
Contents of Audited Financial Report 401.010
Requirements for Financial Statements in Audited Financial Report 401.011
Qualifications of Accountant 401.012
Hearing on Accountant Qualifications 401.013
Accountant’s Letter of Qualifications 401.014
Registration of Accountant 401.015
Resignation or Dismissal of Accountant 401.016
Audited Combined or Consolidated Financial Statements 401.017
Notice of Adverse Financial Condition or Misstatement of Financial Condition 401.018
Information Discovered After Date of Audited Financial Report 401.019
Report on Significant Deficiencies in Internal Control 401.020
Accountant Work Papers 401.021
Penalty for Failure to Comply 401.051
Duty to Examine Carriers 401.052
Frequency of Examination 401.053
Examination Period 401.054
Powers Related to Examination 401.055
Effect of Subchapter on Authority to Use Information 401.056
Rules Related to Reports and Hearings 401.057
Use of Audit and Work Papers 401.058
Confidentiality of Reports and Related Information 401.059
Determination of Value 401.060
Right to Information Relating to Determination of Value or Market Value 401.061
Disciplinary Action for Failure to Comply with Subchapter 401.062
Stay of Rule, Order, Decision, or Finding 401.101
Use of Department Examiner or Other Qualified Person or Firm 401.102
Legislative Intent as to Appointment or Employment of Examiners and Actuaries 401.103
Appointment of Examiners and Actuaries 401.104
Appointment of Examiners, Actuaries, and Other Persons for Certain Examinations 401.105
Oath of Examiners and Assistants 401.106
Right of Action on Bond 401.107
Registration of Contract Examiners 401.151
Expenses of Examination of Domestic Insurer 401.152
Expenses of Examination of Other Insurers 401.153
Reimbursement of Expenses of Certain Persons or Firms 401.154
Tax Credit Authorized 401.155
Additional Assessments 401.156
Deposit and Use of Assessment and Fee 401.201
Confidentiality of Early Warning System Information 401.251
Definitions 401.252
Self-directed Budget 401.253
Audits 401.254
Records 401.255
Membership in Employees Retirement System
Green check means up to date. Up to date

Accessed:
Apr. 20, 2024

§ 401.252’s source at texas​.gov