The ultimate controlling person of every insurer that is subject to registration shall file an enterprise risk report each year. The report shall reflect that person's knowledge and belief of the material risks within the insurance holding company system that pose enterprise risk to the insurer. The report shall be filed with the lead state insurance supervisory official of the insurance holding company system and in compliance with the relevant procedures outlined in the financial analysis handbook adopted by the association.

History: 1978 Comp., § 59A-37-30, enacted by Laws 2014, ch. 59, § 44; 2025, ch. 108, § 2.

ANNOTATIONS

The 2025 amendment, effective June 20, 2025, made technical amendments; after "The" deleted "person who predominantly controls an" and added "ultimate controlling person of every", after "adopted by the" deleted "national", and after "association" deleted "of insurance commissioners".

Severability. — Laws 2014, ch. 59, § 54 provided that if any part or application of the provisions of Laws 2014, ch. 59 is held invalid, the remainder or its application to other situations or persons shall not be affected.