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Rule Title: CONTENTS OF ANNUAL AUDITED FINANCIAL REPORT
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Department: STATE AUDITOR
Chapter: INSURANCE DEPARTMENT
Subchapter: Annual Audited Reports and Establishing Accounting Practices and Procedures to Be Used in Annual Statements
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

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6.6.3504    CONTENTS OF ANNUAL AUDITED FINANCIAL REPORT

(1) The annual audited financial report shall report the financial position of the insurer as of the end of the most recent calendar year and the results of its operations, cash flows and changes in capital and surplus for the year then ended, all in conformity with statutory accounting practices prescribed, or otherwise permitted, by the department of insurance of the state of domicile.

(2) The annual audited financial report shall include the following:

(a) report of independent certified public accountant;

(b) balance sheet reporting admitted assets, liabilities, capital, and surplus;

(c) statement of operations;

(d) statement of cash flow;

(e) statement of changes in capital and surplus; and

(f) notes to financial statements;

(i) These notes shall be those required by the appropriate 2014 NAIC Annual Statement Instructions and the March 2014 NAIC Accounting Practices and Procedures Manual, which are adopted and incorporated by reference, and may be obtained by writing to the NAIC Executive Headquarters, 1100 Walnut Street, Suite 1500, Kansas City, MO 64106-2197. The notes shall include reconciliation of differences, if any, between the audited statutory financial statements and the annual statement filed pursuant to 33-2-701, 33-4-313, 33-7-118, 33-30-107, 33-31-211, MCA, with a written description of the nature of these differences.

(3) The financial statements included in the audited financial report shall be prepared in a form, and using language and groupings substantially the same as the relevant sections of the annual statement of the insurer filed with the commissioner, and the financial statement must be comparative, presenting the amounts as of December 31 of the current year and the amounts as of the immediately preceding December 31. In the first year in which an insurer is required to file an audited financial report, the comparative data may be omitted.

History: 33-1-313, 33-2-1517, MCA; IMP, 33-2-701, 33-2-1517, 33-4-313, 33-5-413, MCA; NEW, 1993 MAR p. 2408, Eff. 10/15/93; AMD, 2004 MAR p. 73, Eff. 1/16/04; AMD, 2008 MAR p. 2622, Eff. 12/25/08; AMD, 2010 MAR p. 315, Eff. 2/12/10; AMD, 2011 MAR p. 1129, Eff. 6/24/11; AMD, 2015 MAR p. 925, Eff. 7/17/15.


 

 
MAR Notices Effective From Effective To History Notes
6-213 7/17/2015 Current History: 33-1-313, 33-2-1517, MCA; IMP, 33-2-701, 33-2-1517, 33-4-313, 33-5-413, MCA; NEW, 1993 MAR p. 2408, Eff. 10/15/93; AMD, 2004 MAR p. 73, Eff. 1/16/04; AMD, 2008 MAR p. 2622, Eff. 12/25/08; AMD, 2010 MAR p. 315, Eff. 2/12/10; AMD, 2011 MAR p. 1129, Eff. 6/24/11; AMD, 2015 MAR p. 925, Eff. 7/17/15.
6-194 6/24/2011 7/17/2015 History: 33-1-313, 33-2-1517, MCA; IMP, 33-2-701, 33-2-1517, 33-4-313, 33-5-413, MCA; NEW, 1993 MAR p. 2408, Eff. 10/15/93; AMD, 2004 MAR p. 73, Eff. 1/16/04; AMD, 2008 MAR p. 2622, Eff. 12/25/08; AMD, 2010 MAR p. 315, Eff. 2/12/10; AMD, 2011 MAR p. 1129, Eff. 6/24/11.
6-186 2/12/2010 6/24/2011 History: 33-1-313, 33-2-1517, MCA; IMP, 33-2-701, 33-2-1517, 33-4-313, 33-5-413, MCA; NEW, 1993 MAR p. 2408, Eff. 10/15/93; AMD, 2004 MAR p. 73, Eff. 1/16/04; AMD, 2008 MAR p. 2622, Eff. 12/25/08; AMD, 2010 MAR p. 315, Eff. 2/12/10.
6-182 12/25/2008 2/12/2010 History: 33-1-313, 33-2-1517, 33-5-413, MCA; IMP, 33-2-1517, 33-5-413, MCA; NEW, 1993 MAR p. 2408, Eff. 10/15/93; AMD, 2004 MAR p. 73, Eff. 1/16/04; AMD, 2008 MAR p. 2622, Eff. 12/25/08.
12/3/2004 12/25/2008 History: 33-1-313, 33-2-1517 and 33-5-413, MCA; IMP, 33-2-1517 and 33-5-413, MCA; NEW, 1993 MAR p. 2408, Eff. 10/15/93; AMD, 2004 MAR p. 73, Eff. 1/16/04; AMD, 2004 MAR p. 2908, Eff. 12/3/04.
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