Termination of registration of insurer no longer member of insurance holding company system; consolidated registration statement or amendment by affiliated insurers

(1) The commissioner is required to terminate the registration of any insurer which demonstrates that it no longer is a member of an insurance holding company system.

(2) The commissioner may require or allow two (2) or more affiliated insurers subject to registration hereunder to file a consolidated registration statement or consolidated reports amending their consolidated registration statement on their individual registration statements.