§ 307. Annual statements; audited financial statements. (a) (1) Every\ninsurer and every fraternal benefit society that is authorized to do an\ninsurance business in this state, and every pension fund, retirement\nsystem or state fund that is required, by any law of this state, to\nreport to the superintendent or is subject to the superintendent's\nexamination, shall file in the office of the superintendent, annually on\nor before the first day of March, a statement, to be known as its annual\nstatement, executed in duplicate, verified by the oath of at least two\nof its principal officers, showing its condition at last year-end or, in\nthe case of a pension fund or retirement system, on such date in the\nyear next preceding as the superintendent may approve. Such statement\nshall be in such form and shall contain such matters as the\nsuperintendent shall prescribe. The superintendent may accept an\nelectronic filing of a foreign insurer's annual statement that does not\ncontain the signatures or verification of the officers provided that the\nforeign insurer has filed, in its state of domicile, an annual statement\nverified by the oath of at least two of its principal officers. In such\na situation, the officers of the foreign insurer shall be deemed to have\ngiven their oath in this state.\n (2) The superintendent shall from time to time prescribe the form of\nsuch annual statement, which may be a printed document and/or electronic\nmedia, and which may be varied as to different types of insurers,\ncorporations, societies, pension funds and retirement systems, as shall\nseem to him best adapted to elicit a true exhibit of the condition of\neach such entity, in respect to every matter which he may deem material.\nFor every annual statement form which differs from or is in addition to\nthose adopted from time to time by the national association of insurance\ncommissioners, the superintendent shall cause to be prepared and\nfurnished to every insurer, pension fund or retirement system required\nby law to report to him, printed forms of the statements and schedules\nrequired by him.\n (3) The annual statement of an alien insurer may be verified by the\noath of the manager or assistant manager thereof within the United\nStates, or by any other official of such insurer authorized by it to\nsign and verify its annual statements, if such authorization shall be\nproved by filing with the superintendent such evidence as he may\nrequire. The annual statement of an alien insurer, excepting a fraternal\nbenefit society, shall be a separate statement, to be known as its\ngeneral form of statement, of the business done within the United States\nand of the assets held by or for it within the United States for the\nprotection of policyholders and creditors within the United States and\nof the liabilities incurred against such assets, and shall not contain\nany statement in regard to its assets and business elsewhere. But the\nsuperintendent may require any such alien insurer to give such\nadditional information as to its total business or assets or any portion\nthereof as he may determine.\n (4) Every insurer and every fraternal benefit society which is\nauthorized to do an insurance business in this state, and every pension\nfund, retirement system or state fund which is required by any law of\nthis state to report to the superintendent, which willfully fails to\nfile an annual statement as required in this section, or willfully fails\nto reply within thirty days to a written inquiry by the superintendent\nin connection therewith, shall, in addition to other penalties provided\nby this chapter, be subject, upon due notice and opportunity to be\nheard, to a penalty of up to two hundred fifty dollars per day of delay,\nnot to exceed twenty-five thousand dollars in the aggregate, for each\nsuch failure.\n (b) (1) Every licensed insurer, except an assessment co-operative\nproperty/casualty insurance company having direct premiums written in
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