58-5A-78. Director's participation in supervisory college to determine insurer compliance.
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/sd/title-58/chapter-58-5/58-5a-78·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Pursuant to the provisions of §§ 58-5A-78 to 58-5A-80 , inclusive, the director may participate in a supervisory college for any domestic insurer registered pursuant to this chapter that is part of an insurance holding company system with international operations to determine compliance by the insurer with this chapter. The director, with respect to a supervisory college, may perform any of the following activities:
(1)Initiate the establishment of a supervisory college;
(2)Clarify the membership and participation of any other supervisor in the supervisory college;
(3)Clarify the functions of the supervisory college and the role of any other regulator, including the establishment of a group-wide supervisor;
(4)Coordinate the ongoing activities of the supervisory college, including planning meetings, supervisory activities, and processes for information sharing; and
(5)Establish a crisis management plan.