3688                                                      VETOES

SUBSECTIONS (B) AND (C) OF THIS SECTION WITH THE NATIONAL
ASSOCIATION OF INSURANCE COMMISSIONERS; AND

(II) FILE A COPY OF THE SUMMARY OF ITS
REGISTRATION STATEMENT AS REQUIRED BY SUBSECTION (C) OF THIS
SECTION IN EACH STATE IN WHICH THAT INSURER IS AUTHORIZED TO DO
BUSINESS IF REQUESTED BY THE COMMISSIONER OF THAT STATE.

(3)   Any insurer which is subject to registration
under this section shall register [within sixty days after July
1, 1969, or] within fifteen days after it becomes [a member of an
insurance holding company system, whichever is later,] SUBJECT TO
REGISTRATION, AND ANNUALLY THEREAFTER BY MARCH 1 OF EACH YEAR FOR
THE PREVIOUS CALENDAR YEAR, unless the Commissioner, for good
cause shown, extends the time for registration and then within
such extended time.

(4)  THE COMMISSIONER MAY REQUIRE ANY INSURER WHICH IS
A MEMBER OF A HOLDING COMPANY SYSTEM WHICH IS NOT SUBJECT TO
REGISTRATION UNDER THIS SECTION TO FURNISH A COPY OF THE
REGISTRATION STATEMENT OR OTHER INFORMATION FILED BY SUCH
INSURANCE COMPANY WITH THE INSURANCE REGULATORY AUTHORITY OF ITS
DOMICILIARY JURISDICTION.

(b) Every insurer subject to registration shall file [a]
THE registration statement on a form provided by the
Commissioner, which shall contain THE FOLLOWING current
information [about]:

(1)  The corporate and capital structure, general
financial condition, ownership and management of the insurer and
[all its affiliates] ANY PERSON CONTROLLING THE INSURER;

(2)  THE IDENTITY AND RELATIONSHIP OF EVERY MEMBER OF
THE INSURANCE HOLDING COMPANY SYSTEM;

[(2)] (3) The following AGREEMENTS IN FORCE, AND
transactions CURRENTLY OUTSTANDING OR WHICH HAVE OCCURRED DURING
THE LAST CALENDAR YEAR between such insurer and its affiliates
[which are in force at the time such insurer becomes subject to
registration]:

(i) Loans, other investment, purchases, sales
or exchanges of securities of the [affiliate] AFFILIATES by the
insurer or of the insurer by its affiliates;

(ii) Purchases, sales, or exchanges of assets;

(iii) Transactions not in the ordinary course
of business;

(iv) Guarantees or undertakings for the benefit
of an affiliate, which result in an actual contingent exposure of
the insurer's assets to liability, other than insurance contracts
entered into in the ordinary course of the insurer's business;