SECTION 7.87. Risk Pool Audits

(a) The Local Government Code, Chapter 172, Texas Political Subdivisions Uniform Group Benefits Program, authorizes certain political subdivisions to create risk pools to provide health and accident coverage for political subdivision officials, employees, and retirees.

(b) The Local Government Code, §172.010, requires that an independent auditor perform an annual audit of a risk pool, and that the trustees of the risk pool file a copy of the independent auditor's report with the Texas Department of Insurance.

(c) The independent auditor's report of the risk pool required by the Local Government Code shall be filed within six months of the end of the fiscal year of the risk pool with the Financial Monitoring Division, Financial Program, Texas Department of Insurance, P.O. Box 149104, MC 303-1A, Austin, Texas 78714-9104.

(d) The risk pool audit reports can be inspected during regular business hours at the Texas Department of Insurance, Financial Monitoring Division, 333 Guadalupe, Austin, Texas.

(e) Persons desiring copies of such audit reports can obtain copies from the Texas Department of Insurance, Financial Monitoring Division, Financial Program, P.O. Box 149104, MC 303-1A, Austin, Texas 78714-9104.

Source Note: The provisions of this §7.87 adopted to be effective May 14, 1994, 19 TexReg 3250.