(a) An insurer or health maintenance organization shall file with the department a report, including any necessary exhibit or other attachment, that discloses:
(1) the material acquisition or disposition of assets; or
(2) the material nonrenewal, cancellation, or revision of a ceded reinsurance agreement.
(b) The insurer or health maintenance organization shall file the report required under Subsection (a) not later than the 15th day after the last day of the calendar month in which any transaction for which a report is required occurs.