28 Tex. Admin. Code § 31.205 - Scope and Frequency of Audits
(a) Annual
audit required. Each guaranty association subject to the provisions of this
subchapter shall undergo an annual financial audit at the end of each calendar
year as required by §
31.204(1) of
this title (relating to Nature of Audits).
(b) Audit plan. The boards of directors of
each guaranty association subject to the provisions of this subchapter shall
annually adopt an audit plan. In developing the plan, the boards shall consider
utilizing the audits described in §31.204(2) - (4). The plan may be modified at
the discretion of the boards. The plan and any modifications of the plan shall
be filed with the commissioner.
(c)
Commissioner may order audit. No provision of this subchapter prohibits or
precludes the commissioner from ordering any entity subject to the provisions
of this subchapter to submit to one or more audits at a frequency determined by
the commissioner, based upon facts and circumstances.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.