TITLE 27
Insurance

CHAPTER 27-1.2
Corporate Governance Annual Disclosure

SECTION 27-1.2-5


§ 27-1.2-5 Contents of corporate governance annual disclosure. [Effective January 1, 2017.].

(a) The insurer or insurance group shall have discretion over the responses to the CGAD inquiries, provided the CGAD shall contain the material information necessary to permit the commissioner to obtain an understanding of the insurer's or group's corporate governance structure, policies, and practices. The commissioner may request additional information that they deem material and necessary to provide the commissioner with a clear understanding of the corporate governance policies; the reporting or information system; or controls implementing those policies.

(b) Notwithstanding subsection (a), the CGAD shall be prepared consistent with the corporate governance annual disclosure regulation adopted by the division of insurance and supporting information shall be maintained and made available upon examination or upon request of the commissioner.

History of Section.
(P.L. 2016, ch. 98, § 1; P.L. 2016, ch. 107, § 1.)