Section 7.06 - Registration of Insurers Statement (Form B and Form C)(1)Statement Filing. An insurer required to file an annual registration statement pursuant to M.G.L. c. 175, § 206C(a) shall furnish the information required by Form B, hereby made a part of 211 CMR 7.00.(2)Summary of Registration - Statement Filing (Form C). An insurer required to file an annual registration statement pursuant to M.G.L. c. 175, § 206C is also required to furnish information required on Form C, hereby made a part of 211 CMR 7.00. An insurer shall file a copy of Form C in each state in which the insurer is authorized to do business, if requested by the Commissioner of that state.(3)Amendments.(a) An amendment to Form B shall be filed within 15 days after the end of any month in which there is a material change to the information provided in the annual registration statement.(b) Amendments shall be filed in the Form B format with only those items which are being amended reported. Each amendment shall include at the top of the cover page "Amendment No. [insert number] to Form B for [insert year]" and shall indicate the date of the change and not the date of the original filings.(4)Alternative and Consolidated Registrations. (a) Any authorized insurer in Massachusetts may file a registration statement on behalf of any affiliated insurer or insurers which are required to register under M.G.L. c. 175, § 206C. A registration statement may include information not required by M.G.L. c. 175, §§ 206 through 206(D) regarding any insurer in the insurance holding company system even if the insurer is not authorized to do business in this Commonwealth. In lieu of filing a registration statement on Form B, the authorized insurer may file a copy of the registration statement or similar report which it is required to file in its State of domicile, provided: 1. The statement or report contains substantially similar information required to be furnished on Form B; and2. the filing insurer is the principal insurance company in the insurance holding company system.(b) The question of whether the filing insurer is the principal insurance company in the insurance holding company system is a question of fact and an insurer filing a registration statement or report in lieu of Form B on behalf of an affiliated insurer, shall set forth a brief statement of facts which will substantiate the filing insurer's claim that it, in fact, is the principal insurer in the insurance holding company system.(c) With the prior approval of the Commissioner, an insurer not authorized in Massachusetts may follow any of the procedures which are available to an authorized insurer under 211 CMR 7.06(4)(a).(d) Any insurer may take advantage of the provisions of M.G.L. c. 175, §§ 206C(h) or 206C(i) without obtaining the prior approval of the Commissioner. The Commissioner, however, reserves the right to require individual filings if he or she deems such filings necessary in the interest of clarity, ease of administration or the public good.(5)Disclaimers and Termination of Registration. (a) A disclaimer of affiliation or a request for termination of registration claiming that a person does not, or will not upon the taking of some proposed action, control another person (hereinafter referred to as the "subject") shall contain the following information: 1. The number of authorized, issued and outstanding voting securities of the subject;2. With respect to the person whose control is denied and all affiliates of such person, the number and percentage of shares of the subject's voting securities which are held of record or known to be beneficially owned, and the number of shares concerning which there is a right to acquire, directly or indirectly;3. All material relationships and bases for affiliation between the subject and the person whose control is denied and all affiliates of such person; and4. A statement explaining why the person should not be considered to control the subject.(b) A request for termination of registration shall be deemed to have been granted unless the Commissioner, within 30 days after receipt of the request, notifies the registrant otherwise.(6)Exemptions. (a) A foreign or alien insurer shall not be required to register pursuant to M.G.L. c. 175, § 206C if it is subject to disclosure requirements and standards adopted by statute or regulation which are substantially similar to those contained in M.G.L. c. 175, § 206C and provided the jurisdiction of its domicile grants a similar exemption to insurers domiciled in this commonwealth and to all insurers included within such domiciled insurer's alternative or consolidated filing made pursuant to 211 CMR 7.06(4) and, provided further, the Commissioner may require a copy of the registration statement or other information filed with the domiciliary state.(b) The state of entry of an alien insurer shall be deemed to be its domiciliary state for the purposes of M.G.L. c. 175, § 206C.(c) Any insurer not otherwise exempt from M.G.L. c. 175, § 206C may apply for an exemption from the requirements of M.G.L. c. 175, § 206C by submitting a statement to the Commissioner setting forth its reason for being exempt.Amended, Mass Register Issue 1258, eff. 4/11/2014.Amended by Mass Register Issue 1514, eff. 2/2/2024.