COMPLIANCE WITH STATE INSURANCE LAWS.
(a) Unless preempted in accordance with the Act or section IV(o) of the Agreement, the Company and its affiliates shall comply with applicable State law.
(b) If a State insurance department determines that the Company or any of its affiliates are in non-compliance with an applicable State law and FCIC determines that the non-compliance materially affects the Company’s ability to meet its obligations under this Agreement, such non-compliance shall be considered a breach of this Agreement unless remedial action by the Company or affiliate to correct the non-compliance is approved by FCIC.
(c) Upon the request of FCIC, the Company shall submit to FCIC information or documentation the Company is required to submit to a State insurance department under applicable State law related to the business conducted under this Agreement.
(d) If a State insurance department notifies the Company or its affiliates that it is taking, or proposes to take, an action against the Company or its affiliates or directs the Company to take an action, the Company must immediately notify FCIC of such action and any remedial action proposed by the Company or directed by the State insurance department that directly or indirectly affects the Company’s ability to perform its obligations under this Agreement.
COMPLIANCE WITH STATE INSURANCE LAWS. (a) Unless preempted in accordance with the Act or section IV.(o) of the Agreement, the Company and its affiliates shall comply with applicable State law.
(b) If a State iInsurance dDepartment determines that the Company or any of its affiliates are in non-compliance with an applicable State law and FCIC determines that the non-compliance materially affects the Company’s ability to meet its obligations under this Agreement, such non-compliance shall be considered a breach of this Agreement unless remedial action by the Company or affiliate to correct the non-compliance is approved by FCIC.
(c) Upon the request of FCIC, the Company shall submit to FCIC information or documentation the Company is required to submit to a the State iInsurance dDepartment under an applicable State law related to the business conducted under this Agreement.
(d) If a State iInsurance dDepartment notifies the Company or its affiliates that it is taking, or proposes to take, an action against the Company or its affiliates or directs the Company to take an action, the Company must immediately notify FCIC of such action and any remedial action proposed to be taken by the Company or directed by the State iInsurance dDepartment that directly or indirectly affects the Company’s ability to perform its obligations under this Agreement.
COMPLIANCE WITH STATE INSURANCE LAWS. Manager agrees to perform the Services in a manner that ensures compliance by Safeco with the Laws relating to the management of insurance company assets in effect in each state in which Safeco is domiciled (the “Regulatory Requirements”), including preparing Schedule D (Investment Detail) in compliance with the National Association of Insurance Commissioners’ (“NAIC”) manuals and making all filings with the NAIC’s Security Valuation Office (the “NAIC-SVO”). Safeco agrees to provide Manager with a list, as updated from time to time, of the states in which it is domiciled. Manager also agrees to promptly notify Safeco of any changes in the Regulatory Requirements that Manager reasonably expects to impact the provision of the Investment Management Services.
