§ 521h-3

521H.3 Corporate governance annual disclosure requirement. 1. An insurer, or the insurance group of which the insurer is a member, shall, no later than June 1 of each calendar year, submit to the commissioner a corporate governance annualdisclosure that contains the information described in section 521H.5. Notwithstanding anyrequest from the commissioner made pursuant to subsection 2, if an insurer is a memberof an insurance group, the insurer shall submit the disclosure required by this section tothe commissioner of insurance of the lead state of the insurance group of which the insureris a member, in accordance with the laws of the lead state, as determined by procedurescontained in the financial analysis handbook adopted by the national association of insurancecommissioners. 2. An insurer or insurance group that is not required to submit a corporate governance annual disclosure under this section shall do so upon the commissioner’s request. 3. Review of the corporate governance annual disclosure and any additional requests for information shall be made through the lead state as determined by procedures containedin the financial analysis handbook adopted by the national

ance annual disclosure and any additional requests for information shall be made through the lead state as determined by procedures containedin the financial analysis handbook adopted by the national association of insurancecommissioners. 4. Insurers or insurance groups that provide information substantially similar to the information required by this chapter in other documents provided to the commissioner,including proxy statements filed in conjunction with the form B insurance holding companysystem annual registration statement requirements as provided in section 521A.4, or otherstate or federal filings provided to the commissioner, are not required to duplicate thatinformation in the corporate governance annual disclosure, but shall cross reference thedocument in which the information is included. 2015 Acts, ch 27, §3, 9 Sat Dec 23 00:53:21 2023 Iowa Code 2024, Section 521H.3 (11, 0)