1. (a) Each fraternal benefit society engaged in business in this state shall annually, on or before March 1:

   1. (1) file with the department in the form required by the commissioner a statement, under oath of the society's president and secretary or corresponding officers, of:

      1. (A) the society's condition and standing on the preceding December 31; and
      2. (B) the society's transactions for the preceding calendar year; and
   2. (2) provide additional information the commissioner considers necessary to demonstrate the society's business and method of operation.
2. (b) The commissioner may periodically require any additional statement the commissioner considers necessary relating to a fraternal benefit society.
3. (c) The department or the state may use the report required under Subsection (a) in determining a fraternal benefit society's financial solvency.

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.