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.
Contents of information statement--Violation as misdemeanor.
Information statement required of partners or members of syndicate or group--Violation
Information statement required of corporate officers, directors and major stockholders--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.
Time of hearing--Notice.
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 required.
Mergers and consolidations exempt from information and approval requirements.
Acquisitions exempt from information and approval requirements by order of director.
Acquisition 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 foreign
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 and effect of filing--Disallowance of disclaimer.
Failure to file registration statement--Fine--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--Director's order to produce information.
Grounds for director's examination.
Personnel employed by department for conduct of examination.
Insurer to pay expense of examination.
Confidentiality of information and documents obtained by examination--Grounds for
publication by director.
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.
Avoiding subjection to cease and desist order--Contents of pre-acquisition notification.
Action by director when acquisition lessens competition--Promulgation of rules establishing
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 insurer.
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 injunction.
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