31A-16-108. Examination of registered insurers.
(1) Subject to the limitation contained in this section and the powers which the
commissioner has under Chapter 2 relating to the examination of insurers, the commissioner has
the power to order any insurer registered under Section 31A-16-105 to produce the records,
books, or other informational papers in the possession of the insurer or its affiliates which the
commissioner considers necessary to ascertain the financial condition or legality of conduct of the
insurer. If an insurer fails to comply with this order, the commissioner may examine the affiliates
to obtain the information.
(2) The commissioner shall exercise his power under Subsection (1) only if the
examination of the insurer under Chapter 2 is inadequate, or the interests of the policyholders of
the insurer may be adversely affected if the commissioner fails to exercise his power.
(3) The commissioner may retain, at the registered insurer's expense, attorneys, actuaries,
accountants, and other experts not otherwise a part of the commissioner's staff, if they are
necessary to assist in the conduct of the examination under Subsection (1). Any persons so
retained are under the direction and control of the commissioner and shall act in a purely advisory
capacity.
(4) Each registered insurer who produces records, books, and papers under Subsection
(1) for examination is liable for and shall pay the expense of the examination under Section
31A-2-205.
Enacted by Chapter 242, 1985 General Session
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Last revised: Thursday, May 28, 2009