Texas Register, Volume 21, Number 80, Pages 10639-10789, October 29, 1996 Page: 10,654
10639-10789 p. ; 28 cm.View a full description of this periodical.
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sections as proposed. There is no anticipated effect on local
employment as a result of these new sections as proposed.
Comments on the proposal may be submitted to Bobby Lane,
Interim Executive Secretary, Texas Board of Nursing Facility
Administrators, Professional Licensing and Certification Divi-
sion, 1100 West 49th Street, Austin, Texas 78756-3183; Phone
(512) 834-6787; FAX (512) 834-6677. A public hearing has
been scheduled for Wednesday, November 13, 1996, 8:30
a.m., at the Texas Department of Health, Room M-759, Austin,
Texas.
The new sections are proposed under the Nursing Facility
Administration Act, Texas Civil Statutes, Article 4512q, Health
and Safety Code, 8(b)(1) which provides the board the
authority to adopt rules consistent with this article regarding
a code of ethics, and 20(a) authorizing the board to assess
administrative penalties, and 22(a) authorizing the board to
impose administrative penalties.
This section affects the Health and Safety Code, 8, 20 and
22.
This agency hereby certifies that the proposal has been re-
viewed by legal counsel and found to be within the agency's
legal authority to adopt.
Issued in Austin, Texas, on October 18, 1996.
TRD-9615315
Michael O. Sims
Chair
Texas Board of Nursing Facility Administrators
Earliest possible date of adoption: November 29, 1996
For further information, please call: (512) 458-7236
TITLE 28. INSURANCE
Part I. Texas Department of Insurance
Chapter 7. Corporate and Financial RegulationSubchapter A.
sisExamination and Financial Analy-
28 TAC 7.66
The Texas Department of Insurance proposes new 7.66, con-
cerning annual and quarterly statement blanks, other reporting
forms, diskettes and instructions to be used by insurers and
certain other entities regulated by the Texas Department of In-
surance when reporting their financial condition and business
operations and activities, and the requirement to file such com-
pleted statement blanks and other reporting forms, including
diskettes. These statement blanks, other reporting forms, and
diskettes are required for reporting, in 1997, the financial con-
dition and business operations and activities conducted during
the 1996 and 1997 calendar years. The new section will re-
place old 7.66, concerning the adoption of the 1987 annual
statement filings and which was repealed in the October 15,
1996, issue of the Texas Register (21 TexReg 10212). The
new section defines terms relevant to the statement blanks and
reporting forms; provides the dates by which certain reportsare to be filed; and adopts by reference the annual and quar-
terly statement blanks, other reporting forms, and instructions
for reporting the financial condition and business operations
and activities; and requires insurance companies and certain
other regulated entities to file such annual and quarterly state-
ments and other reporting forms with the department and/or the
National Association of Insurance Commissioners as directed.
The department has filed with the Office of the Secretary of
State, Texas Register Division, copies of the annual and quar-
terly statement blanks, other reporting forms, and manuals pro-
posed for adoption by reference. Other copies are available
for inspection in the office of the Financial Monitoring Activity
of the Texas Department of Insurance, William P. Hobby State
Office Building, 333 Guadalupe, Building 3, Third Floor, Austin,
Texas.
Jose Montemayor, associate commissioner for the financial
program, has determined that for the first year the section
will be in effect, there will not be fiscal implications for state
government as a result of enforcing or administering the section.
There will be fiscal implications in connection with the filing of
annual statements as a result of Insurance Code, Article 1.11.
Under Article 1.11, insurers are required to file a copy of their
annual statement with the National Association of Insurance
Commissioners (NAIC), however, Article 1.11 also provides
that insurers cannot be required to pay any costs or expenses
(other than the expense of preparing and furnishing the annual
statement to the NAIC) for the filing of the annual statement
with the NAIC, therefore such costs are paid by the department
to the NAIC. There will be no effect on local government or local
employment for the first five-year period the section will be in
effect. There will not be fiscal implications for the remaining
four years the section is in effect since the section is applicable
only to financial reporting during 1997. For small businesses
and larger businesses, the cost of compliance with this section
will be the administrative expense in completing the statement
blanks, other reporting forms, and diskette filings. The cost
of completing the diskette filings depends on the method of
compliance selected by the regulated entity. If a regulated
entity purchases electronic data processing equipment and
prepares diskettes internally, the anticipated maximum cost of
compliance would be $7,500 for the first year, and $1,200 for
each of the next four years. If a regulated entity engages an
independent consultant or vendor to prepare diskettes adequate
to comply with the requirements of this section, the anticipated
possible economic cost of compliance would be between $600
and $3,500 for each year of the first five years that the proposed
section is in effect, with the exact cost depending on the fee
schedule of the independent consultant or vendor engaged by
the regulated entity. On the basis of cost per hour of labor, there
is no expected difference in cost of compliance between small
businesses and larger businesses affected by this section.
Mr. Montemayor also has determined that, for each year of
the first five years this section, as proposed, is in effect, the
public benefits anticipated as a result of enforcing this section
are the ability of the department to provide financial informa-
tion to the public and other regulatory bodies as requested, and
to monitor the financial condition of insurers and other regu-
lated entities licensed in Texas to better assure financial sol-
vency. Such insurers and other regulated entities are generally
required by statute to provide the department with annual re-21 TexReg 10654 October 29, 1996
Texas Register
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Texas. Secretary of State. Texas Register, Volume 21, Number 80, Pages 10639-10789, October 29, 1996, periodical, October 29, 1996; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth182324/m1/16/: accessed July 17, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.