83-19-29 - New companies to file financial statement each quarter for two years.
§ 83-19-29. New companies to file financial statement each quarter for two years.
It shall be the further duty of the Commissioner of Insurance of this state to require each domestic insurance company to file with the Department of Insurance a sworn financial statement of the company each quarter after it commences to do business, for a period of two (2) years. The statement shall be filed on and in accordance with the NAIC Quarterly Statement Blank and Instructions as well as the NAIC Accounting Practices and Procedures Manual. After the expiration of the two-year period, the annual statement otherwise required by statute will be sufficient unless the Commissioner of Insurance deems it advisable to require a more frequent filing of a financial statement.
Sources: Codes, 1942, § 5659.7; Laws, 1958, ch. 437, § 2; Laws, 2003, ch. 384, § 1, eff from and after July 1, 2003.