Texas Administrative Code
Title 28 - INSURANCE
Part 1 - TEXAS DEPARTMENT OF INSURANCE
Chapter 10 - WORKERS' COMPENSATION HEALTH CARE NETWORKS
Subchapter B - CERTIFICATION
Section 10.24 - Network Financial Requirements
Universal Citation: 28 TX Admin Code § 10.24
Current through Reg. 50, No. 13; March 28, 2025
(a) On at least a calendar year basis, each network must prepare financial statements in accordance with generally accepted accounting principles, which mustinclude:
(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.
Disclaimer: These regulations may not be the most recent version. Texas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
