Maine § 24-A §423-G Corporate governance annual disclosure

Maine Statutes

§ 24-A §423-G — Corporate governance annual disclosure

Maine·Title 24-A MAINE INSURANCE CODE·Ch. 5 AUTHORIZATION OF INSURERS AND GENERAL REQUIREMENTS

1.Definitions. As used in this section, unless the context otherwise indicates, the following terms have the following meanings.

2.Disclosure requirement. This subsection governs corporate governance annual disclosure filings.

3.Contents of corporate governance annual disclosure. This subsection governs the contents of corporate governance annual disclosure filings.

4.Confidentiality. This subsection governs confidentiality in corporate governance annual disclosure filings. 4-A. Sharing CGAD information with the NAIC. The superintendent may share confidential information provided or obtained under this section with the NAIC only in accordance with a written agreement that contains the provisions specified in section 216, subsection 5, paragraph C and the following additional provisions

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1.
Definitions.
As used in this section, unless the context otherwise indicates, the following terms have the following meanings.
2.
Disclosure requirement.
This subsection governs corporate governance annual disclosure filings.
3.
Contents of corporate governance annual disclosure.
This subsection governs the contents of corporate governance annual disclosure filings.
4.
Confidentiality.
This subsection governs confidentiality in corporate governance annual disclosure filings.
4-A.
Sharing CGAD information with the NAIC.
The superintendent may share confidential information provided or obtained under this section with the NAIC only in accordance with a written agreement that contains the provisions specified in section 216, subsection 5, paragraph C and the following additional provisions:
5.
Independent consultants.
This subsection governs independent consultants retained to review corporate governance annual disclosure and compliance with this section.
6.
Rules.
The superintendent may adopt reasonable rules as necessary to implement this section. Rules adopted pursuant to this subsection are routine technical rules as defined in Title 5, chapter 375, subchapter 2‑A.
7.
Severability.
If any provision of this section other than subsection 4, or the application thereof to any person or circumstance, is determined to be invalid, that determination does not affect the provisions or applications of this section that can be given effect without the invalid provision or application, and to that end the provisions of this section with the exception of subsection 4 are severable.
8.
Relationship to other laws.
This section may not be construed to prescribe or impose corporate governance standards and internal procedures beyond those required of business corporations under Title 13‑C. This section may not be construed to limit the superintendent's examination authority under sections 221 and 222 or the rights or obligations of 3rd parties in connection with examinations conducted under those sections.