58-5A-41.3. Agreements regarding sharing of confidential information. The director shall enter into written agreements with the NAIC governing the sharing and use of information provided pursuant to this chapter that:
(1) Specify procedures and protocols regarding the confidentiality and security of information shared with the NAIC and its affiliates and subsidiaries pursuant to this chapter, including procedures and protocols for sharing by the NAIC with any other state, federal, or international regulator;
(2) Specify that ownership of information shared with the NAIC and its affiliates and subsidiaries pursuant to this chapter remains with the director and that the NAIC use of the information is subject to the direction of the director;
(3) Require prompt notice to be given to an insurer whose confidential information is in the possession of the NAIC pursuant to this chapter and is subject to a request or subpoena issued to the NAIC for disclosure or production; and
(4) Require the NAIC and its affiliates and subsidiaries to consent to intervention by an insurer in any judicial or administrative action in which the NAIC and its affiliates and subsidiaries may be required to disclose confidential information about the insurer shared with the NAIC and its affiliates and subsidiaries pursuant to this chapter.Source: SL 2015, ch 246, § 17.
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