Title 15 — Commerce and Trade
Chapter 108 — State-Based Insurance Reform
§ 8222. Regulation of reinsurer solvency
Statutory text
Domiciliary State regulation
If the State of domicile of a reinsurer is an NAIC-accredited State or has financial solvency requirements substantially similar to the requirements necessary for NAIC accreditation, such State shall be solely responsible for regulating the financial solvency of the reinsurer.
Nondomiciliary States
Limitation on financial information requirements
If the State of domicile of a reinsurer is an NAIC-accredited State or has financial solvency requirements substantially similar to the requirements necessary for NAIC accreditation, no other State may require the reinsurer to provide any additional financial information other than the information the reinsurer is required to file with its domiciliary State.
Receipt of information
No provision of this section shall be construed as preventing or prohibiting a State that is not the State of domicile of a reinsurer from receiving a copy of any financial statement filed with its domiciliary State.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Nonadmitted and Reinsurance Reform Act of 2010
Pub. L. 111–203 title V § 532 · 124 Stat. 1376
Enacted · 15 U.S.C. § 8222
(Pub. L. 111–203, title V, § 532, July 21, 2010, 124 Stat. 1595.)
Source evidence
Code source credit
(Pub. L. 111–203, title V, § 532, July 21, 2010, 124 Stat. 1595.)Enacted provision · exact public law section
SEC. 532. REGULATION OF REINSURER SOLVENCY. (a) Domiciliary State Regulation.— If the State of domicile of a reinsurer is an NAIC-accredited State or has financial solvency requirements substantially similar to the requirements necessary for NAIC accreditation, such State shall be solely responsible for regulating the financial solvency of the reinsurer. (b) Nondomiciliary States.— (1) Limitation on financial information requirements.— If the State of domicile of a reinsurer is an NAIC-accredited State or has financial solvency requirements substantially similar to the requirements necessary for NAIC accreditation, no other State may require the reinsurer to provide any additional financial information other than the information the reinsurer is required to file with its domiciliary State. (2) Receipt of information.— No provision of this section shall be construed as preventing or prohibiting a State that is not the State of domicile of a reinsurer from receiving a copy of any financial statement filed with its domiciliary State.
1 of 1 references resolved to an enrolled provision