Page 331

House Bill No. 5506

Public Act No. 22-118 331 of 739

and such group-wide supervisor recognizes and cooperates with the commissioner's activities as a group-wide supervisor for other internationally active insurance groups, where applicable. The commissioner may refuse to cooperate if the commissioner determines such recognition and cooperation are not reasonably reciprocated. The commissioner may enter into agreements with or obtain documentation from any member insurance company registered pursuant to this section, any affiliate of such insurance company and any other state, federal and international regulatory agencies of the jurisdictions where members of the internationally active insurance group are domiciled, to establish or clarify such official's role as group-wide supervisor. (8) The commissioner may adopt regulations, in accordance with the provisions of chapter 54, to carry out the provisions of this subsection. (9) Each insurance company registered pursuant to this section shall be liable for and shall pay the reasonable expenses of the commissioner's administration of this subsection, including the engagement of the services of attorneys, actuaries and other professionals and all reasonable travel expenses. Sec. 214. Section 38a-136 of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2022): (a) Transactions within an insurance holding company system to which an insurance company subject to registration under section 38a- 135 is a party shall be subject to the following requirements: (1) The terms shall be fair and reasonable; (2) [charges] Charges or fees for services performed shall be reasonable; (3) [expenses] Expenses incurred and payment received shall be allocated to the insurance company in conformity with customary