Texas Insurance Code 2651.152 – Annual Audit of Trust Fund Accounts: Title Insurance Companies
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(a) Each title insurance company shall have an annual audit made of trust fund accounts for each county in which it operates in its own name. The company shall pay for the audit.
(b) Not later than the 90th day after the date of the end of the title insurance company’s fiscal year, the company shall file with the department one copy of the audit report.
Terms Used In Texas Insurance Code 2651.152
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.