PART II. EXAMINATIONS

 

[§431E-11]  Examination.  (a)  Thecommissioner may, when the commissioner deems it reasonably necessary toprotect the interests of the public, examine the business and affairs of anylicensee or applicant for a license.  The commissioner may order any licenseeor applicant to produce any records, books, files or other informationreasonably necessary to ascertain whether such licensee or applicant is actingor has acted in violation of the law or otherwise contrary to the interests ofthe public. The expenses incurred in conducting any examination shall be paidby the licensee or applicant.

(b)  In lieu of an examination under thischapter of any foreign or alien licensee licensed in this State, thecommissioner may, at the commissioner's discretion, accept an examinationreport on the licensee as prepared by the commissioner for the licensee's stateof domicile or port-of-entry state.

(c)  Records of all consummated transactionsand life settlement contracts shall be maintained by the provider for threeyears after the death of the insured and shall be available to the commissionerfor inspection during reasonable business hours. [L 2008, c 177, pt of §1]