§ 3695. Supervisory colleges
§ 3695. Supervisory colleges (a) Power of Commissioner. With respect to any insurer registered under section 3684 of this title and in accordance with subsection (c) of this section, the Commissioner shall also have the power to participate in a supervisory college for any domestic insurer that is part of an insurance holding company system […]
§ 3696. Groupwide supervisor; internationally active insurance group
§ 3696. Groupwide supervisor; internationally active insurance group (a)(1) The Commissioner is authorized to act as the groupwide supervisor for any internationally active insurance group. The Commissioner, however, may acknowledge another regulatory official as the supervisor, provided the group: (A) does not have substantial insurance operations in the United States; (B) has substantial insurance operations […]
§ 3685. Standards and management of an insurer within an insurance holding company system
§ 3685. Standards and management of an insurer within an insurance holding company system (a) Transactions within an insurance holding company system to which an insurer subject to registration is a party shall be subject to the following standards: (1) the terms shall be fair and reasonable; (2) agreements for cost-sharing services and management shall […]
§ 3686. Examination
§ 3686. Examination (a) Power of Commissioner. Subject to the limitation contained in this section and in addition to the powers which the Commissioner has under subchapter 7 of this chapter relating to the examination of insurers, the Commissioner shall also have the power to examine any insurer registered under section 3684 of this chapter […]
§ 3687. Confidential treatment
§ 3687. Confidential treatment (a) Documents, materials, or other information in the possession or control of the Department that are obtained by or disclosed to the Commissioner or any other person in the course of an examination or investigation made pursuant to section 3686 of this title and all information reported pursuant to subdivisions 3683(b)(12) […]
§ 3688. Rules and regulations
§ 3688. Rules and regulations The Commissioner may, upon notice and opportunity for all interested persons to be heard, issue such rules, regulations, and orders as shall be necessary to carry out the provisions of this subchapter. (Added 1971, No. 72, § 2.)
§ 3689. Injunctions; prohibitions against voting securities; sequestration of voting securities
§ 3689. Injunctions; prohibitions against voting securities; sequestration of voting securities (a) Injunctions. Whenever it appears to the Commissioner that any insurer or any director, officer, employee, or agent thereof has committed or is about to commit a violation of this subchapter or of any rule, regulation, or order issued by the Commissioner hereunder, the […]
§ 3690. Sanctions
§ 3690. Sanctions (a) Any insurer failing, without just cause, to file any registration statement as required in this subchapter shall be required, after notice and hearing, to pay a penalty of not more than $1,000.00 for each day’s delay, to be recovered by the Commissioner of Financial Regulation and the penalty so recovered shall […]
§ 3691. Receivership
§ 3691. Receivership Whenever it appears to the Commissioner that any person has committed a violation of this subchapter which so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders, creditors, shareholders, or the public, then the Commissioner may […]
§ 3692. Revocation, suspension, or nonrenewal of insurer’s license
§ 3692. Revocation, suspension, or nonrenewal of insurer’s license Whenever it appears to the Commissioner that any person has committed a violation of this subchapter which makes the continued operation of an insurer contrary to the interests of policyholders or the public, the Commissioner may, after giving notice and an opportunity to be heard, determine […]