For safety and soundness purposes, on or before 90 days after the date its fiscal year ends, each savings association is required to submit to the Department the results and findings of an independent audit of its financial statements and all correspondence reasonably related to the audit. The audit is to be performed in accordance with generally accepted auditing standards and the provisions of the FDIC set forth in 12 C.F.R. §363.2 and §363.3, with the exception of any matters specifically addressed by this section, the Texas Savings and Loan Act, or the rules (regulations) adopted thereunder.

Source Note: The provisions of this §60.223 adopted to be effective July 16, 2023, 48 TexReg 3644