§ 8222. Regulation of reinsurer solvency

160 words·~1 min read·/usc/title-15/section-8222

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(a)Domiciliary State regulation If the State of domicile of a reinsurer is an NAIC-accredited State or has financial solvency requirements substantially similar to the requirements necessary for NAIC accreditation, such State shall be solely responsible for regulating the financial solvency of the reinsurer.

(b)Nondomiciliary States

(1)Limitation on financial information requirements If the State of domicile of a reinsurer is an NAIC-accredited State or has financial solvency requirements substantially similar to the requirements necessary for NAIC accreditation, no other State may require the reinsurer to provide any additional financial information other than the information the reinsurer is required to file with its domiciliary State.

(2)Receipt of information No provision of this section shall be construed as preventing or prohibiting a State that is not the State of domicile of a reinsurer from receiving a copy of any financial statement filed with its domiciliary State.

(Pub. L. 111–203, title V, § 532, July 21, 2010, 124 Stat. 1595.)

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Sec. 532
REGULATION OF REINSURER SOLVENCY

statutes-at-large

Public Law 111–203
To promote the financial stability of the United States by improving accountability and transparency in the financial system, to end “too big to fail”, to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes

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Pub. L. 111–203, title V, § 532
124 Stat. 1595

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§ 8222

Regulation of reinsurer solvency

Stat. Comp.×1

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Pub. L.Pub. L. 111–203, title V, § 532

Stat.124 Stat. 1595

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