(1) In responding to a request for CGAD-related information, an insurer or insurance group may exercise its discretion so long as its CGAD provides the commissioner sufficient information to understand the insurer's or insurance group's corporate governance structure, policies, and practices. The commissioner may request that an insurer or insurance group provide additional information for this purpose.
(2) Notwithstanding subsection (1) of this section, each insurer and insurance group shall prepare each CGAD in compliance with this part 16 and with requirements established pursuant to rules promulgated by the commissioner pursuant to section 10-3-1608. Each insurer and insurance group that submits a CGAD shall maintain documentation and supporting information and make such documentation and supporting information available upon request of the commissioner.
Source: L. 2019: Entire part added, (HB 19-1291), ch. 188, p. 2086, § 1, effective August 2.