HI SB1265

Amends the definition of "domestic insurance holding company system" to include systems with an ultimate controlling person formed in this State prior to January 1, 1995 (changed from January 1, 2000) and broadens the definition to require "two or more affiliated persons" rather than just a single holding company.

Updates Section 431:11-104(b)(12) to clarify that acquiring parties must provide annual reports specified in section 431:11-105(b)(1) for so long as control exists.

Expands Section 431:11-105(b)(5) to require financial statements to include all affiliates within an insurance holding company system when requested by the commissioner.

Adds new paragraph (8) to Section 431:11-105(b) authorizing the commissioner to require "any other information...by rule not inconsistent with this section."

Clarifies Section 431:11-107 to permit examination of affiliates and simplifies procedures for obtaining information, and exempts domestic insurance holding company systems from examination requirements under this section.

Amends Section 431:11-108(c)(2) to reference the correct statutory citation for annual reports in confidentiality and information-sharing provisions.

Effective January 1, 2016.