§ 24-A §423-C — Reports of material transactions

1.
Report required.
Every domestic insurer must file a report with the superintendent, on or before the 15th day of each month, if it has engaged in a material investment or reinsurance transaction during the preceding month that has not already been separately reported to the superintendent or submitted to the superintendent for prior review.
2.
Material transactions defined.
As used in this section, unless the context otherwise indicates, the following terms have the following meanings.
3.
Reporting procedures.
Reports for material investment transactions and material reinsurance transactions must follow the following procedures.
4.
Confidentiality.
All reports obtained by or disclosed to the superintendent pursuant to this section are confidential, are not subject to subpoena and may not be made public by the superintendent, the National Association of Insurance Commissioners or any other person, except to insurance departments of other states, without the prior written consent of the insurer to which it pertains. If the superintendent, after giving the insurer that would be affected notice and an opportunity for hearing, determines that publication is in the interest of policyholders, shareholders or the public, the superintendent may publish all or any part of a report in the manner the superintendent determines to be appropriate.

Legislative History

RR 1995, c. 2, §51 (COR). PL 1995, c. 375, §A1 (NEW).