§ 302. Supervisory colleges. (a) The superintendent may participate in
a supervisory college in order to determine compliance with this chapter
with respect to an insurer that is registered under article fifteen,
sixteen, or seventeen of this chapter and has international operations.
The powers of the superintendent with respect to supervisory colleges
include:

(1) initiating the establishment of a supervisory college;

(2) clarifying the membership and participation of other supervisors
in the supervisory college;

(3) clarifying the functions of the supervisory college and the role
of other regulators, including the establishment of a group-wide
supervisor;

(4) coordinating the ongoing activities of the supervisory college,
including planning meetings, supervisory activities, and processes for
information sharing; and

(5) establishing a crisis management plan.

(b) Each insurer registered under article fifteen, sixteen, or
seventeen of this chapter that is subject to a supervisory college shall
be liable for and shall pay the reasonable expenses of the
superintendent's participation in a supervisory college, including
reasonable travel expenses. A supervisory college may be convened as
either a temporary or permanent forum for the communication and
cooperation between the regulators charged with the supervision of the
insurer or its parent, affiliates, or subsidiaries. The superintendent
may establish a regular assessment to the insurer for the payment of
these expenses.

(c) In order to assess the business strategy, financial position,
legal and regulatory position, risk exposure, risk management and
governance processes, and as part of the examination of individual
insurers, the superintendent may participate in a supervisory college
with other regulators charged with supervision of the insurer or its
parent, affiliates, or subsidiaries, including other state, federal, and
international regulatory agencies. The superintendent may enter into
agreements pursuant to section one hundred ten of this chapter providing
the basis for cooperation between the superintendent and other
regulatory agencies and for the activities of the supervisory college.
Nothing in this section shall delegate to the supervisory college the
superintendent's authority to regulate or supervise the insurer or its
parent, affiliates, or subsidiaries within the superintendent's
jurisdiction.