Ga. Comp. R. & Regs. R. 120-2-60-.04 - Filing and Extensions for Filing of Annual Audited Financial Reports
(1) All insurers
shall have an annual audit by an independent certified public accountant and
shall file an Audited financial report with the Commissioner on or before June
1 for the year ended December 31 immediately preceding. The Commissioner may
require an insurer to file an audited financial report earlier than June 1 with
ninety (90) days advance notice to the insurer.
(2) Extensions of the June 1 filing date may
be granted by the Commissioner for thirty (30) day periods upon showing by the
insurer and its independent certified public accountant the reasons for
requesting such extension and determination by the Commissioner of good cause
for an extension. The request for extension must be submitted in writing not
less than ten (10) days prior to the due date in sufficient detail to permit
the Commissioner to make an informed decision with respect to the requested
extension.
(3) If an extension is
granted in accordance with the provisions in paragraph 2, a similar extension
of thirty (30) days is granted to the filing of Management's Report of Internal
Control over Financial Reporting.
(4) Every insurer required to file an annual
Audited financial report pursuant to this regulation shall designate a group of
individuals as constituting its Audit committee, as defined in
120-2-60-.03(3).
The Audit committee of an entity that controls an insurer may be deemed to be
the insurer's Audit committee for purposes of this regulation at the election
of the controlling person.
Notes
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