Sec. 80-1.7. Substantial compliance

(a) A foreign controlled insurer that, pursuant to the laws of its state of domicile is required (or whose holding company is required) to register, report or otherwise disclose information substantially equivalent to that required by this Part, may register, report or fulfill any similar disclosure requirements hereunder by filing, within the applicable periods prescribed hereunder, copies of the material filed with its state of domicile.

(b) If required by the superintendent, an insurer specified in subdivision (a) of this section shall supplement any such filing by a schedule or index referring to the specific requirements of this Part or the forms promulgated hereunder.