§ 26-3-310 — Communication of internal control related matters noted in an audit

In addition to the annual audited financial report, each insurer
shall furnish the commissioner with a written communication as
to any unremediated material weakness, as defined in statement
on auditing standard 60 or its replacement, in its internal
control over financial reporting noted by the accountant during
the audit. Such communication shall be prepared by the
accountant within sixty (60) days after the filing of the annual
audited financial report and shall contain a description of any
unremediated material weakness as of December 31 immediately
preceding in the insurer's internal control over financial
reporting noted by the accountant during the course of the audit
of the financial statements. If no unremediated material
weaknesses were noted, the communication shall so state. The
insurer shall provide a description of remedial actions taken or
proposed to correct unremediated material weaknesses, if the
actions are not described in the accountant's communication.