§ 7204. Approval by superintendent. (a) An executed counterpart of the
domestication agreement, together with certified copies of the corporate
proceedings of the acquiring insurer and the alien insurer approving,
adopting and authorizing the execution of such domestication agreement,
and, in the case of a foreign insurer, the written approval of the
insurance supervisory official of the state in which the wholly owned
foreign insurer is incorporated, shall be submitted to the
superintendent for his approval.

(b) If satisfied that the agreement is in accordance with the
provisions of this article and that the interests of policyholders and
creditors of the United States branch are not materially adversely
affected the superintendent may approve such domestication agreement and
authorize its consummation in compliance with the provisions of section
seven thousand two hundred five of this article.