Indiana Code 27-1-3.5-6. Annual audit; filing; time; extension
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Sec. 6. (a) A domestic insurer shall have an audit by an independent auditor every year and shall file an audited financial report with the commissioner every year before June 1 immediately following the December 31 that ends the year reported on in the financial report. The commissioner may require a domestic insurer to file an audited financial report earlier than June 1 if the commissioner gives the domestic insurer ninety (90) days advance notice of the earlier filing date.
(b) An extension of the June 1 filing date may be granted by the commissioner for thirty (30) days upon a showing by the insurer and its independent auditor of the reasons for requesting the extension and a determination by the commissioner that there is good cause for an extension. The request for an extension must be submitted in writing at least ten (10) days before the due date, and must include sufficient detail to permit the commissioner to make an informed decision with respect to the requested extension.
As added by P.L.244-1989, SEC.2. Amended by P.L.251-1995, SEC.6.
Terms Used In Indiana Code 27-1-3.5-6
- commissioner: refers to the insurance commissioner appointed under IC 27-1-1-2. See Indiana Code 27-1-3.5-1
- domestic insurer: means an insurer organized under the laws of Indiana. See Indiana Code 27-1-3.5-2
- in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
- independent auditor: means a certified public accountant or a certified public accounting firm that conducts an annual audit of a domestic insurer as required by this chapter. See Indiana Code 27-1-3.5-3
- insurer: means a company, firm, partnership, association, order, society or system making any kind or kinds of insurance and shall include associations operating as Lloyds, reciprocal or inter-insurers, or individual underwriters. See Indiana Code 27-1-2-3
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5