Not later than the 120th day after the last day of each association fiscal year, the board shall submit to the commissioner:

1. (1) a financial report in a form approved by the commissioner; and
2. (2) a report of the association's activities during the preceding fiscal year.

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.