Section 58-5A-80.6 - Group-wide supervisor-Director cooperationIf the director acknowledges that another regulatory official from a jurisdiction that is not accredited by the NAIC is the group-wide supervisor, the director may reasonably cooperate, through supervisory colleges, with group-wide supervision undertaken by the group-wide supervisor, if:
(1) The director's cooperation is in compliance with the laws of this state; and(2) The regulatory official acknowledged as the group-wide supervisor also recognizes and cooperates with the director's activities as a group-wide supervisor for other internationally active insurance groups, where applicable. If the recognition and cooperation is not reasonably reciprocal, the director may refuse recognition and cooperation.Added by S.L. 2020, ch. 213,s. 7, eff. 7/1/2020.