INSURANCE HOLDING COMPANIES
Definition of terms.
"Domestic insurer" defined.
Acquisition of control of or merger with domestic insurer--Information statement
required--Approval by director required--Violation as misdemeanor.
Divestiture of controlling interest in domestic insurer--Notice to director and insurer.
Contents of information statement--Violation as misdemeanor.
Information statement required of partners or members of syndicate or group--Violation as misdemeanor.
Information required of corporations, officers, directors and certain owners of voting
securities--Violation as misdemeanor.
Amendment of information statement--Violation as misdemeanor.
Federal or state registration statements utilized in furnishing information.
Approval by director of acquisition or merger--Grounds for disapproval.
Disapproval of dividends or distributions for violation--Order of supervision.
Time of hearing--Notice.
Request for public hearing on consolidated basis.
Procedure at hearing--Evidence admissible.
Cost of hearing officer--Retention of various experts at acquiring person's expense.
Time for director's determination after hearing.
Statements and notices mailed to shareholders--Expenses of mailing--Security
Mergers and consolidations exempt from information and approval requirements.
Acquisitions exempt from information and approval requirements by order of
Acquisition, divestiture, or merger without approval as misdemeanor.
Jurisdiction of court in Hughes County--Director as attorney for service of process.
Registration of subsidiary insurer--Time for registration--Statement required of
Form and contents of registration statement.
Initial and annual registration fees.
Disclosure of immaterial information not required.
Report of changes required of registered insurer.
Termination of registration.
Consolidated registration statement or report by affiliated insurers.
Registration by insurer on behalf of affiliated insurer.
Insurer exempt from registration requirements on order of director.
Disclaimer of affiliation--Contents--Procedure on disallowance.
Annual enterprise risk report.
Failure to file registration statement or enterprise risk report--Penalty--Waiver.
Registration requirements satisfied by duplicate copies of federal filings.
Standards for material transactions by registered insurers with affiliates--Nonconformity.
Adequacy of insurer's surplus--Factors considered.
Notice to director of extraordinary distribution--Approval by director.
Application for approval of extraordinary distribution--Contents.
Examination of insurers and affiliates.
Grounds for director's examination.
Production of records, books, and other information.
Examination of registered insurer's affiliates to obtain information.
Personnel employed by department for conduct of examination.
Insurer to pay expense of examination.
Confidentiality of information in possession or control of Division--Use in regulatory
or legal action--Grounds for publication by director.
Testimony in private civil action concerning confidential information prohibited.
Certain sharing of confidential information permitted.
Agreements regarding sharing of confidential information.
Information in possession or control of NAIC confidential.
Confidentiality not waived by disclosure of information.
Acquisition of subsidiaries--Limitations.
Disposition of investment in subsidiary upon cessation of control--Waiver.
Pre-acquisition notification--"Person" defined.
"Acquisition" and "Involved insurer" defined--Limited application.
Application of §§ 58-5A-46 to 58-5A-53--Exceptions.
Pre-acquisition notification--Contents--Waiting period.
Action by director when acquisition lessens competition--Promulgation of rules
establishing competitive standards.
Acquisitions subject to order under § 58-5A-69.
Plan for limiting anticompetitive impact of acquisition--Time limit.
Fine, suspension, or revocation for violation of cease and desist order.
Failure to comply with filing requirements--Fine.
Report of dividends and distributions to shareholders--Time limit.
Persons subject to registration to provide complete and accurate information to
Notification to director of certain transactions required.
Transactions entered into to avoid director's review prohibited.
Considerations in decision to approve or disapprove transactions.
Notification to director of certain investments into one corporation.
Certain securities not to be voted at shareholder's meeting--Application for
Petition to seize or sequester voting securities acquired in violation of chapter.
Violations by officers subject to fine--Determining amount of fine.
Transactions or contracts entered into without approval--Cease and desist order by
Criminal proceedings for violation committed knowingly--Fine.
False statements, reports, or filings as felony.
Order for conservation, liquidation, or rehabilitation--Distribution and recovery--Liability.
Suspension, revocation, or refusal to renew license for violation.
Stay of director's action upon appeal to circuit court.
Order by director upon violation of standards--Cease and desist--Denial of license.
Promulgation of rules by director.
Application of §§ 58-5A-60 and 58-5A-61.
Ownership situs of voting securities.
Additional investments by domestic insurer.
Determining whether investments meet applicable requirements.
Investments subject to chapter 58-27.
Application to insurer not a member of same holding company.
Dividends paid from earned surplus--Exclusions--Promulgation of rules for ordinary
Director's participation in supervisory college to determine insurer compliance.
Expenses of director's participation in supervisory college
Director's participation in supervisory college with other regulators.
Maintenance of risk management framework.
Regular conduct of ORSA.
Submission of ORSA summary report or comparable reports to division.
ORSA summary report requirements.
Exemption from requirements.
Requirements where insurer or insurer's group does not qualify for exemption.
Insurer's application for waiver.
One year period to comply with requirements following loss of qualification for
Conditions under which director may require maintenance of risk management
framework, conduct of ORSA, and filing of ORSA summary report.
Confidentiality of information submitted to division.
Powers and duties of director regarding ORSA.
Sharing of information and documents by director--Confidentiality.
Promulgation of rules regarding ORSA.