§ 58-5-163 — Submission of disclosure--Requirement.

An insurer, or the insurance group of which the insurer is a member, shall submit a corporate governance annual disclosure containing the information described in §§ 58-5-161 to 58-5-171, inclusive, to the director no later than June first of each calendar year. If the insurer is a member of an insurance group, the insurer shall submit the report required by this section to the director, commissioner, superintendent, or other official who is the lead state for the insurance group in accordance with the laws of the lead state. The disclosure must be signed by the insurer or insurance group's chief executive officer or corporate secretary attesting to the best of that individual's belief and knowledge that the insurer has implemented the corporate governance practices and that a copy of the disclosure has been provided to the insurer's board of directors or the appropriate committee thereof. Notwithstanding the foregoing, the director may request any insurer to submit the disclosure.

Legislative History

SL 2020, ch 212, § 3.