Section 23-63-2005 - Corporate governance annual disclosure

(a)(1) The insurer or insurance group shall have discretion over the responses to the corporate governance annual disclosure inquiries or questions if the corporate governance annual disclosure contains the material information necessary to permit the Insurance Commissioner to gain an understanding of the insurer's or insurance group's corporate governance structure, policies, and practices.(2) The commissioner may request additional information that he or she deems 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) of this section, the corporate governance annual disclosure shall be prepared consistent with any rule promulgated under § 23-63-2010.(c) Documentation and supporting information shall be maintained and made available upon examination or upon request of the commissioner.Added by Act 2019, No. 521,§ 16, eff. 7/24/2019.