Section 292
SEC. 292. The following transactions between a controlled insurer and any person in its holding company system may not be entered into unless the insurer has notified the Commissioner in writing of its intention to enter into any such transaction at least thirty days prior thereto, or such shorter period as he may permit, and he has not disapproved it within such period: sales, purchases, exchanges, loans or extensions of credit, or investments, involving more than one-half of one per centum but less than five per centum of the insurer's admitted assets as of the thirty-first day of December next preceding; reinsurance treaties or agreements; rendering of services on a regular or systematic basis; or any material transaction, specified by regulation, which the Commissioner determines may adversely affect the interest of the insurer's policyholders or stockholders or of the public. Nothing herein contained shall be deemed to authorize or permit any transaction which, in the case of a non-controlled insurer, would be otherwise contrary to law.