1. (a) At least once each calendar quarter, a managing general agent shall submit an account report to each insurer with whom the agent has a contract.

2. (b) The account report must include, as applicable, a statement of:

   1. (1) written, earned, and unearned premiums;
   2. (2) losses and loss expenses paid and outstanding;
   3. (3) losses incurred but not reported; and
   4. (4) management fees.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.