Chapter 5A - INSURANCE HOLDING COMPANIES
- Section 58-5A-NEW - [Newly enacted section not yet numbered] [Effective 7/1/2024] (ยง 58-5A-NEW)
- Section 58-5A-1 - [Effective Until 7/1/2024] Definitions
- Section 58-5A-1 - [Effective 7/1/2024] Definitions
- Section 58-5A-2 - "Domestic insurer" defined
- Section 58-5A-3 - Acquisition of control of or merger with domestic insurer-Information statement required-Approval by director required-Violation as misdemeanor
- Section 58-5A-3.1 - Divestiture of controlling interest in domestic insurer-Notice to director and insurer
- Section 58-5A-4 - Contents of information statement-Violation as misdemeanor
- Section 58-5A-5 - Information statement required of partners or members of syndicate or group-Violation as misdemeanor
- Section 58-5A-6 - Information required of corporations, officers, directors and certain owners of voting securities-Violation as misdemeanor
- Section 58-5A-7 - Amendment of information statement-Violation as misdemeanor
- Section 58-5A-8 - Federal or state registration statements utilized in furnishing information
- Section 58-5A-9 - Approval by director of acquisition or merger-Grounds for disapproval
- Section 58-5A-9.1 - Disapproval of dividends or distributions for violation-Order of supervision
- Section 58-5A-10 - Time of hearing-Notice
- Section 58-5A-10.1 - Request for public hearing on consolidated basis
- Section 58-5A-11 - Procedure at hearing-Evidence admissible
- Section 58-5A-11.1 - Cost of hearing officer-Retention of various experts at acquiring person's expense
- Section 58-5A-12 - Time for director's determination after hearing
- Section 58-5A-13 - Statements and notices mailed to shareholders-Expenses of mailing-Security required
- Section 58-5A-14 - [Repealed]
- Section 58-5A-15 - Mergers and consolidations exempt from information and approval requirements
- Section 58-5A-16 - Acquisitions exempt from information and approval requirements by order of director
- Section 58-5A-17 - [Repealed]
- Section 58-5A-18 - Acquisition, divestiture, or merger without approval as misdemeanor
- Section 58-5A-19 - Jurisdiction of court in Hughes County-Director as attorney for service of process
- Section 58-5A-20 - Registration of subsidiary insurer-Time for registration-Statement required of foreign insurer
- Section 58-5A-21 - Form and contents of registration statement
- Section 58-5A-22 - Initial and annual registration fees
- Section 58-5A-23 - [Effective Until 7/1/2024] Disclosure of immaterial information not required
- Section 58-5A-23 - [Effective 7/1/2024] Disclosure of immaterial information not required
- Section 58-5A-24 - Report of changes required of registered insurer
- Section 58-5A-25 - Termination of registration
- Section 58-5A-26 - Consolidated registration statement or report by affiliated insurers
- Section 58-5A-27 - Registration by insurer on behalf of affiliated insurer
- Section 58-5A-28 - Insurer exempt from registration requirements on order of director
- Section 58-5A-29 - Disclaimer of affiliation-Contents-Procedure on disallowance
- Section 58-5A-29.1 - Annual enterprise risk report
- Section 58-5A-30 - Failure to file registration statement or enterprise risk report-Penalty-Waiver
- Section 58-5A-31 - Registration requirements satisfied by duplicate copies of federal filings
- Section 58-5A-32 - Standards for material transactions by registered insurers with affiliates-Nonconformity
- Section 58-5A-33 - [Repealed]
- Section 58-5A-34 - Adequacy of insurer's surplus-Factors considered
- Section 58-5A-35 - Notice to director of extraordinary distribution-Approval by director
- Section 58-5A-36 - Application for approval of extraordinary distribution-Contents
- Section 58-5A-37 - Examination of insurers and affiliates
- Section 58-5A-38 - Grounds for director's examination
- Section 58-5A-38.1 - Production of records, books, and other information
- Section 58-5A-38.2 - Examination of registered insurer's affiliates to obtain information
- Section 58-5A-39 - Personnel employed by department for conduct of examination
- Section 58-5A-40 - Insurer to pay expense of examination
- Section 58-5A-41 - [Effective Until 7/1/2024] Confidentiality of information in possession or control of Division-Use in regulatory or legal action-Grounds for publication by director
- Section 58-5A-41 - [Effective 7/1/2024] Confidentiality of information in possession or control of Division-Use in regulatory or legal action-Grounds for publication by director
- Section 58-5A-41.1 - Testimony in private civil action concerning confidential information prohibited
- Section 58-5A-41.2 - [Effective Until 7/1/2024] Certain sharing of confidential information permitted
- Section 58-5A-41.2 - [Effective 7/1/2024] Certain sharing of confidential information permitted
- Section 58-5A-41.3 - [Effective Until 7/1/2024] Agreements regarding sharing of confidential information
- Section 58-5A-41.3 - [Effective 7/1/2024] Agreements regarding sharing of confidential information
- Section 58-5A-41.4 - [Effective Until 7/1/2024] Information in possession or control of NAIC confidential
- Section 58-5A-41.4 - [Effective 7/1/2024] Information in possession or control of NAIC confidential
- Section 58-5A-41.5 - Confidentiality not waived by disclosure of information
- Section 58-5A-42 - [Repealed]
- Section 58-5A-43 - Acquisition of subsidiaries-Limitations
- Section 58-5A-44 - Disposition of investment in subsidiary upon cessation of control-Waiver
- Section 58-5A-45 - Pre-acquisition notification-"Person" defined
- Section 58-5A-46 - "Acquisition" and "Involved insurer" defined-Limited application
- Section 58-5A-47 - Application of sections 58-5A-46 to 58-5A-53-Exceptions
- Section 58-5A-48 - Pre-acquisition notification-Contents-Waiting period
- Section 58-5A-49 - Action by director when acquisition lessens competition-Promulgation of rules establishing competitive standards
- Section 58-5A-50 - Acquisitions subject to order under section 58-5A-69
- Section 58-5A-51 - Plan for limiting anticompetitive impact of acquisition-Time limit
- Section 58-5A-52 - Fine, suspension, or revocation for violation of cease and desist order
- Section 58-5A-53 - Failure to comply with filing requirements-Fine
- Section 58-5A-54 - Report of dividends and distributions to shareholders-Time limit
- Section 58-5A-55 - Persons subject to registration to provide complete and accurate information to insurer
- Section 58-5A-56 - Notification to director of certain transactions required
- Section 58-5A-57 - Transactions entered into to avoid director's review prohibited
- Section 58-5A-58 - Considerations in decision to approve or disapprove transactions
- Section 58-5A-59 - Notification to director of certain investments into one corporation
- Section 58-5A-60 - Certain securities not to be voted at shareholder's meeting-Application for injunction
- Section 58-5A-61 - Petition to seize or sequester voting securities acquired in violation of chapter
- Section 58-5A-62 - Violations by officers subject to fine-Determining amount of fine
- Section 58-5A-63 - Transactions or contracts entered into without approval-Cease and desist order by director
- Section 58-5A-64 - Criminal proceedings for violation committed knowingly-Fine
- Section 58-5A-65 - False statements, reports, or filings as felony
- Section 58-5A-66 - Order for conservation, liquidation, or rehabilitation-Distribution and recovery-Liability
- Section 58-5A-67 - Suspension, revocation, or refusal to renew license for violation
- Section 58-5A-68 - Stay of director's action upon appeal to circuit court
- Section 58-5A-69 - Order by director upon violation of standards-Cease and desist-Denial of license
- Section 58-5A-70 - Promulgation of rules by director
- Section 58-5A-71 - Application of sections 58-5A-60 and 58-5A-61
- Section 58-5A-72 - Ownership situs of voting securities
- Section 58-5A-73 - Additional investments by domestic insurer
- Section 58-5A-74 - Determining whether investments meet applicable requirements
- Section 58-5A-75 - Investments subject to chapter 58-27
- Section 58-5A-76 - Application to insurer not a member of same holding company
- Section 58-5A-77 - Dividends paid from earned surplus-Exclusions-Promulgation of rules for ordinary dividends
- Section 58-5A-78 - Director's participation in supervisory college to determine insurer compliance
- Section 58-5A-79 - Expenses of director's participation in supervisory college
- Section 58-5A-80 - Director's participation in supervisory college with other regulators
- Section 58-5A-80.1 - Internationally active insurance group-Supervision
- Section 58-5A-80.2 - International active insurance group-Group-wide supervisor determination
- Section 58-5A-80.3 - Internationally active insurance group-Group-wide supervisor acknowledgment
- Section 58-5A-80.4 - Group-wide supervisor-Information for determination
- Section 58-5A-80.5 - Group-wide supervisor-Director supervision-Permitted activities
- Section 58-5A-80.6 - Group-wide supervisor-Director cooperation
- Section 58-5A-80.7 - Information sharing
- Section 58-5A-80.8 - Promulgation of rules
- Section 58-5A-80.9 - Reasonable expenses
- Section 58-5A-81 - Maintenance of risk management framework
- Section 58-5A-82 - Regular conduct of ORSA
- Section 58-5A-83 - Submission of ORSA summary report or comparable reports to division
- Section 58-5A-84 - ORSA summary report requirements
- Section 58-5A-85 - Exemption from requirements
- Section 58-5A-86 - Requirements where insurer or insurer's group does not qualify for exemption
- Section 58-5A-87 - Insurer's application for waiver
- Section 58-5A-88 - One year period to comply with requirements following loss of qualification for exemption
- Section 58-5A-89 - Conditions under which director may require maintenance of risk management framework, conduct of ORSA, and filing of ORSA summary report
- Section 58-5A-90 - Confidentiality of information submitted to division
- Section 58-5A-91 - Powers and duties of director regarding ORSA
- Section 58-5A-92 - Sharing of information and documents by director-Confidentiality
- Section 58-5A-93 - Promulgation of rules regarding ORSA