CONTENTS OF DISCLOSURE

(a) An insurer or insurance group has discretion over the responses to the disclosure inquiries, provided the disclosure must contain the material information necessary to permit the commissioner to gain an understanding of the insurer's or insurance group's corporate governance structure, policies, and practices. (b) The commissioner may request additional information that the commissioner considers material and necessary to provide the commissioner with a clear understanding of: (1) the corporate governance policies; and (2) the reporting, information system, or controls implementing those policies. (c) Notwithstanding Subsections (a) and (b), the disclosure shall be prepared consistent with rules adopted by the commissioner. Documentation and supporting information must be maintained and made available on examination or on request of the commissioner.