§431:11-107 - Examination.
§431:11-107 Examination. (a) Subject
to the limitation contained in this section and in addition to the powers which
the commissioner has under article 2 relating to the examination of insurers,
the commissioner shall also have the power to order any insurer registered
under section 431:11-105 to produce records, books, or other information papers
in the possession of the insurer or its affiliates as are reasonably necessary
to ascertain the financial condition of the insurer or to determine compliance with
this article. In the event the insurer fails to comply with the order, the
commissioner shall have the power to examine the insurer's affiliates to obtain
the information.
(b) 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 as shall be reasonably
necessary to assist in the conduct of the examination under subsection (a).
Any persons so retained shall be under the direction and control of the
commissioner and shall act in a purely advisory capacity.
(c) Each registered insurer producing for
examination records, books and papers pursuant to subsection (a) shall be
liable for and shall pay the expense of the examination in accordance with
article 2. [L 1987, c 349, pt of §8]