# Conn. Gen. Stat. § 38a-54: Sec. 38a-54. Audited reports

> Connecticut · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-54

## Section

- **Citation:** Conn. Gen. Stat. § 38a-54
- **Heading:** Sec. 38a-54. Audited reports
- **Jurisdiction:** Connecticut
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Connecticut Code / Title 38a / Chapter 698 / Section 38a-54

## Text

(b) Each foreign insurance company, foreign health care center or foreign fraternal benefit society doing business in this state shall have an annual audit conducted by an independent certified public accountant and shall annually file an audited financial report with the commissioner, and electronically to the National Association of Insurance Commissioners, on or before June first for the year ending the preceding December thirty-first. An electronically filed true and complete report timely submitted to the National Association of Insurance Commissioners shall be deemed to have been submitted to the commissioner in accordance with the provisions of this section.

(c) The commissioner shall adopt regulations in accordance with the provisions of chapter 54 to: (1) Specify the scope of the examination required by this section; (2) specify the contents and scope of the annual audited financial report, provided such report shall include all incurred losses; (3) provide for the review of the controls; (4) provide for the availability to the commissioner of the workpapers of the certified public accountant; and (5) provide exemptions from compliance with the requirements of this section.

## Nearby sections

- [Conn. Gen. Stat. § 38a-41 Sec. 38a-41. (Formerly Sec. 38-20). Authority to do business. Licensure. Revocation or refusal to renew license. Fines. Company owned by a state or foreign nation or company controlled by insureds not to be issued license. Appeals. Plan of operations. Type of business to be conducted.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-41.md)
- [Conn. Gen. Stat. § 38a-41a Sec. 38a-41a. Certificate authorizing formation of insurance company or health care center. Information required by commissioner. Costs.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-41a.md)
- [Conn. Gen. Stat. § 38a-42 Sec. 38a-42. (Formerly Sec. 38-20b). Contracts with life, accident or health insurance producers.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-42.md)
- [Conn. Gen. Stat. § 38a-43 Sec. 38a-43. (Formerly Sec. 38-22). Certain insurance companies and health care centers may be prohibited from transacting business in this state.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-43.md)
- [Conn. Gen. Stat. § 38a-44 Sec. 38a-44. (Formerly Sec. 38-64b). Notice to commissioner of intent to discontinue line of insurance.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-44.md)
- [Conn. Gen. Stat. § 38a-47 Sec. 38a-47. (Formerly Sec. 38-53a). Payments by domestic insurance companies for expenditures of Insurance Department and amount appropriated to Office of Health Strategy from Insurance Fund.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-47.md)
- [Conn. Gen. Stat. § 38a-48 Sec. 38a-48. (Formerly Sec. 38-53b). *(See end of section for amended version and effective date.) Assessment of payments by domestic insurance companies. Adjustments. Penalty. Interest. Payments credited to Insurance Fund. Allocation of assessments.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-48.md)
- [Conn. Gen. Stat. § 38a-53 Sec. 38a-53. (Formerly Sec. 38-24). Requirements re filing of annual reports and financial statements. Late filing fee. Due date extensions.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-53.md)
- [Conn. Gen. Stat. § 38a-54 Sec. 38a-54. Audited reports.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-54.md)
- [Conn. Gen. Stat. § 38a-55 Sec. 38a-55. Hypothecation of assets.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-55.md)
- [Conn. Gen. Stat. § 38a-58a Sec. 38a-58a. Transfer of domicile: By foreign insurance company to this state; by domestic insurance company to another state. Procedures.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-58a.md)
- [Conn. Gen. Stat. § 38a-58b Sec. 38a-58b. Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-58b.md)
- [Conn. Gen. Stat. § 38a-58d Sec. 38a-58d. Use of state as alien insurer's state of entry. Requirements. Examination of trusteed assets. Revocation of license and liquidation of United States branch.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-58d.md)
- [Conn. Gen. Stat. § 38a-58e Sec. 38a-58e. Annual and quarterly statements by United States branch.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-58e.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-54. Check the current official text before relying on it. Not legal advice.