28 Tex. Admin. Code § 3.4008 - Procedures for Corrections to Non-Compliant Exempt Forms
(a) In order to monitor the appropriateness
and effectiveness of the exemption provisions, the department will conduct
periodic random and targeted audits of forms filed under these sections. Any
compliance deficiencies identified during the audit process will be
communicated to the insurer with a request for corrective action. Any failure
to acknowledge a request and provide a plan for corrective action will be
subject to the provisions of §
3.4009 of this title (relating to
Sanctions).
(b) In the event that
an insurer becomes aware, without notification by the department, that a form
filed as exempt under the provisions of this subchapter (relating to Exemption
from Review and Approval of Certain Life, Accident, Health, and Annuity Forms
and Expedition of Review) does not comply with the Insurance Code or the rules
of the Texas Department of Insurance or the laws or regulations of the United
States, the insurer shall promptly notify the department in writing of the form
number, the nature of the non-compliance, and the insurer's plan for corrective
action to remedy the non-compliance situation.
(c) In the event that an insurer becomes
aware, without notification by the department, that a form filed as exempt
under the provisions of this subchapter was not eligible to be filed exempt,
the insurer shall promptly notify the department, withdraw the form filed as
exempt and refile the form in accordance with the applicable filing
requirements of this chapter.
Notes
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