1.  The Commissioner may, for any registered insurer who is part of an insurance holding company system with international operations, convene a supervisory college or participate in a supervisory college convened by a state, federal or international regulatory agency with authority over any insurer who is part of the insurance holding company system:

(a) To determine whether or not the registered insurer is in compliance with the provisions of this chapter;

(b) To assess the business strategy, financial position, legal and regulatory compliance, risk exposure, risk management and governance procedures of the registered insurer; or

(c) As part of an examination of the registered insurer pursuant to NRS 692C.410.

2.  In convening a supervisory college pursuant to subsection 1, the Commissioner may, without limitation:

(a) Establish:

(1) The membership of the supervisory college;

(2) The functions of the supervisory college; and

(3) The role of each regulatory agency participating in the supervisory college;

(b) Designate a regulatory agency as supervisor of the supervisory college; and

(c) Coordinate the activities of the supervisory college, including, without limitation:

(1) Meetings;

(2) Supervisory activities; and

(3) The sharing of information among members of the supervisory college.

3.  In convening or participating in a supervisory college pursuant to this section, the Commissioner may enter into agreements with other state, federal or international regulatory agencies concerning the governance of a supervisory college. Such an agreement must meet the confidentiality requirements of NRS 692C.420.

4.  The provisions of this section must not be construed to:

(a) Limit the authority of the Commissioner; or

(b) Delegate to any supervisory college the authority of the Commissioner to regulate a registered insurer or any affiliate of a registered insurer pursuant to this title.

5.  As used in this section, ‘supervisory college’ means a temporary or permanent forum for communication and cooperation between regulators, including, without limitation, state, federal and international regulatory agencies which are charged with regulating and supervising an insurer.