§ 1604. Registration. (a) An authorized domestic insurer shall\nregister with the superintendent within thirty days of becoming subject\nto registration and shall amend the registration within thirty days\nfollowing any material change to the information provided in the\nregistration. The registration shall be in such form and shall contain\nsuch matters as the superintendent prescribes. The superintendent may\ngrant reasonable extensions of the time to register.\n (b)(1) An authorized domestic insurer, other than a domestic insurer\nrequired to register as a controlled insurer pursuant to section one\nthousand five hundred three of this chapter, shall adopt a formal\nenterprise risk management function and shall file an enterprise risk\nreport with the superintendent by April thirtieth of each year. The\nreport shall, to the best of the insurer's knowledge and belief,\nidentify the material risks within any subsidiary that could pose\nenterprise risk to the insurer.\n (2) For the purposes of this article, "enterprise risk" means any\nactivity, circumstance, event, or series of events involving one or more\nsubsidiaries of an insurer that, if not remedied promptly, is likely to\nhave a material adverse effect upon the financial condition or liquidity\nof the insurer, including anything that would cause the insurer's\nrisk-based capital to fall into company action level as set forth in\nsection one thousand three hundred twenty-four of this chapter, or that\nwould cause further transaction of business to be hazardous to the\ninsurer's policyholders or creditors or the public.\n (c) (1) An authorized domestic insurer, other than a domestic insurer\nrequired to register as a controlled insurer pursuant to section one\nthousand five hundred three of this chapter, shall file with the\nsuperintendent an annual group capital calculation by June thirtieth of\neach year when this state is the lead state as determined in accordance\nwith the procedures within the financial analysis handbook adopted by\nthe NAIC, as amended from time to time.\n (2) When the lead state is not this state, an authorized domestic\ninsurer shall file with the superintendent the annual group capital\ncalculation as adopted by its lead state if the authorized domestic\ninsurer has filed the annual group capital calculation with the lead\nstate but the lead state is not willing or able to share the annual\ngroup capital calculation with the superintendent.\n (3) When this state is the lead state, the authorized domestic insurer\nshall complete the annual group capital calculation in accordance with\nthe group capital calculation instructions, which may permit the\nsuperintendent to allow a subsidiary to file the annual group capital\ncalculation.\n (4) When this state is the lead state, an authorized domestic insurer\nshall be exempt from filing an annual group capital calculation if it:\n (A) has only one insurer subsidiary that only writes business and is\nonly licensed in its domestic state and assumes no business from any\nother insurer;\n (B) is required to perform a group capital calculation specified by\nthe United States Federal Reserve Board, except that the authorized\ndomestic insurer shall not be exempt if the superintendent requests the\ngroup capital calculation from the United States Federal Reserve Board\nunder the terms of information sharing agreements in effect and the\nFederal Reserve Board cannot share the calculation with the\nsuperintendent;\n (C) has a non-United States group-wide supervisor that is located\nwithin a reciprocal jurisdiction, as described in part one hundred\ntwenty-five of title eleven of the official compilation of codes, rules\nand regulations of this state, that recognizes the United States state\nregulatory approach to group supervision and group capital; or\n (D)(i) provides information to the superintendent, either directly or\nindirectly through the group-wide supervisor, who has determined such\ninformat
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