15-U.S.C.-8222
§8222 – Regulation of Reinsurer Solvency
Pathway
Title 15 > Chapter 108 > Subchapter II > Section 8222
Details
- Reference: Section 8222
- Legend: §8222 – Regulation of Reinsurer Solvency
- USCode Year: 2013
Provision Content
(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.)
U.S. Encyclopedia of Law Coverage
15-U.S.C.-8113 in the Legal Encyclopedia: Trade Law
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