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Regulation 52 – Section 80-1.3

11 NYCRR 80-1.3

Applications pursuant to insurance law, section 1501(c)

Parallel Citations  Regulation 52

Former Citations  11 NYCRR 80.3

Applications for a determination that a person does not, or will not upon the taking of some proposed action, control any other person (hereinafter referred to as the "subject"), shall contain the following information:

(a) The number of authorized, issued and outstanding voting shares of the subject;

(b) With respect to such person and all persons controlling, controlled by or under common control with such person:

(1) the number of shares of the subject's securities which are held of record or known to be beneficially owned, and the number of shares concerning which there is a right to acquire, directly or indirectly;

(2) any interests in any other securities of the subject, including its notes, bonds, and other corporate obligations; and

(3) information as to all transactions in any securities of the subject which were effected during the past six months by such person.

(c) Whether such person, including any person controlling, controlled by or under common control with it, is, or during the next preceding 12 months was, engaged under an agreement, contract, or retainer with the subject as a supplier of goods or services or in some employment or consulting capacity, or whether there is any understanding, written or otherwise, that such person will be so engaged, for which compensation was, is or will be payable; the nature of the arrangement and amount of such compensation;

(d) Whether such person is under common management, or shares any common officers or directors, with the subject and whether such person, if a natural person, or any member of his immediate family, is an officer or director of the subject:

(e) A general statement explaining why such person should not be considered to control the subject.

Return to: Holding Company Filings – Article 15

Updated 03/29/2011