20-481.18. Disclaimer of affiliation or control; contents; effect on duty to register

A. Any person may file with the director a disclaimer of affiliation or control with any authorized insurer or such a disclaimer may be filed by such insurer or any member of an insurance holding company system.

B. The disclaimer shall fully disclose all material relationships and bases for affiliation or control between such person and such insurer as well as the basis for disclaiming such affiliation or control.

C. After a disclaimer has been filed, the insurer shall be relieved of any duty to register or report under any of the provisions of this act, unless and until the director disallows such a disclaimer.

D. The director shall disallow such a disclaimer only after furnishing all parties in interest with notice and opportunity to be heard and after making specific findings of fact to support such disallowance.

20-481.18. Disclaimer of affiliation or control; contents; effect on duty to register

A. Any person may file with the director a disclaimer of affiliation or control with any authorized insurer or such a disclaimer may be filed by such insurer or any member of an insurance holding company system.

B. The disclaimer shall fully disclose all material relationships and bases for affiliation or control between such person and such insurer as well as the basis for disclaiming such affiliation or control.

C. After a disclaimer has been filed, the insurer shall be relieved of any duty to register or report under any of the provisions of this act, unless and until the director disallows such a disclaimer.

D. The director shall disallow such a disclaimer only after furnishing all parties in interest with notice and opportunity to be heard and after making specific findings of fact to support such disallowance.