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House Bill No. 5506

Public Act No. 22-118 318 of 739

[(7)] (8) "NAIC" means the National Association of Insurance Commissioners; (9) "NAIC liquidity stress test framework" means the NAIC Liquidity Stress Test Framework publication which includes a history of the NAIC's development of regulatory liquidity stress testing, the scope criteria applicable for a specific data year, and the liquidity stress test instructions and reporting templates for a specific data year, such scope criteria, instructions, and reporting template being as adopted by the NAIC and as amended by the NAIC from time to time in accordance with the procedures adopted by the NAIC; [(8)] (10) "Person" has the same meaning as provided in section 38a- 1, or any combination of persons so defined acting in concert; (11) "Scope criteria" means the designated exposure bases along with minimum magnitudes thereof for the specified data year used to establish a preliminary list of insurers considered scoped into the NAIC liquidity stress test framework for that data year; [(9)] (12) A "securityholder" of a specified person means one who owns any security of such person, including common stock, preferred stock, debt obligations and any other security convertible into or evidencing the right to acquire any of the foregoing; [(10)] (13) "Subsidiary" has the same meaning as provided in section 38a-1; and [(11)] (14) "Voting security" includes any security convertible into or evidencing a right to acquire a voting security. (c) The provisions of sections 38a-129 to 38a-140, inclusive, shall apply to captive insurance companies, as defined in section 38a-91aa, as specified in section 38a-91oo.