375.1030.  Annual audit required, report filed, when — extensions granted, when — audit committee required, when. — 1.  All insurers shall have an annual audit by an independent certified public accountant and shall file an audited financial report with the director on or before June first for the year ended December thirty-first immediately preceding.  The director may require an insurer to file an audited financial report earlier than June first with ninety days' advance notice to the insurer.

  2.  Extensions of the June first filing date may be granted by the director for thirty-day periods upon a showing by the insurer and its independent certified public accountant of the reasons for requesting such extension and determination by the director of good cause for an extension.  The request for extension must be submitted in writing not less than ten days prior to the due date in sufficient detail to permit the director to make an informed decision with respect to the requested extension.

  3.  If an extension is granted in accordance with the provisions of subsection 2 of this section, a similar extension of thirty days is granted to the filing of management's report of internal control over financial reporting.

  4.  Every insurer required to file an annual audited financial report under sections 375.1025 to 375.1062 shall designate a group of individuals as constituting its audit committee, as defined in section 375.1025.  The audit committee of an entity that controls an insurer may be deemed to be the insurer's audit committee for purposes of sections 375.1025 to 375.1062 at the election of the controlling person.