[§431E-12]  Conduct of examinations. (a)  Upon determining that an examination under section 431E-11 should beconducted, the commissioner shall issue an examination warrant appointing oneor more examiners to perform the examination and instructing them as to thescope of the examination.  In conducting the examination, the examiner shalluse methods common to the examination of any life settlement licensee and shalluse the guidelines and procedures set forth in an examiners' handbook adoptedby a national organization.

(b)  Every licensee or person from whominformation is sought, including its officers, directors and agents, shallprovide to the examiners timely, convenient, and free access at all reasonablehours at its offices to all books, records, accounts, papers, documents,assets, and computer or other recordings relating to the property, assets,business, and affairs of the licensee being examined.  The officers, directors,employees, and agents of the licensee or person shall facilitate the examinationand aid in the examination so far as it is in their power to do so.  Therefusal of a licensee, by its officers, directors, employees, or agents, tosubmit to examination or to comply with any reasonable written request of thecommissioner shall be grounds for suspension or refusal of, or nonrenewal ofany license or authority held by the licensee to engage in the life settlementbusiness or other business subject to the commissioner's jurisdiction.  Anyproceedings for suspension, revocation, or refusal of any license or authorityshall be conducted pursuant to chapter 91.

(c)  The commissioner shall have the power toissue subpoenas, to administer oaths, and to examine under oath any person asto any matter pertinent to the examination.  Upon the failure or refusal of aperson to obey a subpoena, the commissioner may petition a court of competentjurisdiction, and upon proper showing, the court may enter an order compellingthe witness to appear and testify or produce documentary evidence.

(d)  When making an examination under thischapter, the commissioner may retain attorneys, appraisers, independentactuaries, independent certified public accountants, or other professionals andspecialists as examiners, the reasonable cost of which shall be borne by thelicensee that is the subject of the examination.

(e)  Nothing in this chapter shall be construedto limit the commissioner's authority to terminate or suspend an examination topursue other legal or regulatory action pursuant to the insurance laws of this State. Findings of fact and conclusions made pursuant to any examination shall beprima facie evidence in any legal or regulatory action.

(f)  Nothing in this chapter shall be construedto limit the commissioner's authority to use and, if appropriate, to makepublic any final or preliminary examination report, any examiner or licenseework papers or other documents, or any other information discovered ordeveloped during the course of any examination in the furtherance of any legalor regulatory action that the commissioner may, in the commissioner's solediscretion, deem appropriate. [L 2008, c 177, pt of §1]