(a)Each authorized insurer, annually, on or before March
1, or within any extended time the commissioner grants, not to
exceed thirty (30) days, shall file with the commissioner a full
and true statement of its financial condition, transactions and
affairs as of December 31 immediately preceding. The statement
shall be in the general form and context of, and require
information as called for by, the form of annual statement as
currently in general and customary use in the United States for
the type of insurer and kinds of insurance to be reported upon,
with any modification the commissioner requires. The statement
shall be verified by the oath of the insurer's president or
vice-president and secretary or actuary as applicable, or if a
reciprocal insurer by the oath of the attorney-in-fact
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(a) Each authorized insurer, annually, on or before March
1, or within any extended time the commissioner grants, not to
exceed thirty (30) days, shall file with the commissioner a full
and true statement of its financial condition, transactions and
affairs as of December 31 immediately preceding. The statement
shall be in the general form and context of, and require
information as called for by, the form of annual statement as
currently in general and customary use in the United States for
the type of insurer and kinds of insurance to be reported upon,
with any modification the commissioner requires. The statement
shall be verified by the oath of the insurer's president or
vice-president and secretary or actuary as applicable, or if a
reciprocal insurer by the oath of the attorney-in-fact, or its
like officers if a corporation.
(b) Each authorized insurer shall file with the
commissioner on a quarterly basis a statement of its financial
condition for the preceding quarter. The statement shall be in
the form of a quarterly statement as currently in general and
customary use in the United States for the type of insurer and
kinds of insurance to be reported upon, with any modification
the commissioner requires. Each quarterly statement shall be
filed with the commissioner on or before forty-five (45) days
from the end of the quarter being reported.
(c) The statement of an alien insurer shall be verified by
its United States manager or other authorized officer and shall
relate only to the insurer's transactions and affairs in the
United States unless the commissioner requires otherwise. If the
commissioner requires a statement as to an alien insurer's
affairs throughout the world, the insurer shall file the
statement with the commissioner as soon as reasonably possible.
(d) All annual and quarterly statements filed pursuant to
this section shall be completed pursuant to the most recent
National Association of Insurance Commissioners' accounting
practices and procedures manual and accompanied by an electronic
version containing the same information as the statement. The
commissioner may specify the format of the electronic version.
The commissioner may accept, for any foreign insurer required to
file any statement under this section, an electronic filing with
the National Association of Insurance Commissioners meeting the
requirements of this section as a filing with the commissioner.
The commissioner may refuse to continue or may suspend or revoke
the certificate of authority of any insurer failing to file its
annual or quarterly statement when due.