(b) To aid in thedetection and prevention of insurer insolvencies, the board of directors may,upon majority vote, request that the Commissioner order an examination of anymember insurer which the board in good faith believes may be in a financialcondition hazardous to the policyholders or the public. Within 30 days of thereceipt of such request, the Commissioner shall begin such examination. Theexamination may be conducted as an NAIC examination or may be conducted by suchpersons as the Commissioner designates. The examination report shall be treatedas are other examination reports. In no event shall such examination report bereleased to the board of directors prior to its release to the public, but thisshall not preclude the Commissioner from complying with subsection (c) below.The Commissioner shall notify the board of directors when the examination iscompleted. The request for an examination shall be kept on file by theCommissioner but it shall not be open to public inspection prior to the releaseof the examination report to the public.
(c) It shall be theduty of the Commissioner to report to the board of directors when he hasreasonable cause to believe that any member insurer examined or being examinedat the request of the board of directors may be insolvent or in a financialcondition hazardous to the policyholders or the public.
(d) The board ofdirectors may, upon majority vote, make reports and recommendations to theCommissioner upon any matter germane to the solvency, liquidation,rehabilitation or conservation of any member insurer. Such reports andrecommendations shall not be considered public documents.
(e) The board ofdirectors may, upon majority vote, make recommendations to the Commissioner forthe detection and prevention of insurer insolvencies.
(f) The board ofdirectors may, at the conclusion of any domestic insurer insolvency in whichthe Association was obligated to pay covered claims, prepare a report on thehistory and causes of such insolvency, based on the information available tothe Association, and submit such report to the Commissioner. (1971,c. 670, s. 1; 1989, c. 206, s. 7; 1991, c. 720, s. 27; 1995, c. 360, s. 2(j).)
(b) To aid in thedetection and prevention of insurer insolvencies, the board of directors may,upon majority vote, request that the Commissioner order an examination of anymember insurer which the board in good faith believes may be in a financialcondition hazardous to the policyholders or the public. Within 30 days of thereceipt of such request, the Commissioner shall begin such examination. Theexamination may be conducted as an NAIC examination or may be conducted by suchpersons as the Commissioner designates. The examination report shall be treatedas are other examination reports. In no event shall such examination report bereleased to the board of directors prior to its release to the public, but thisshall not preclude the Commissioner from complying with subsection (c) below.The Commissioner shall notify the board of directors when the examination iscompleted. The request for an examination shall be kept on file by theCommissioner but it shall not be open to public inspection prior to the releaseof the examination report to the public.
(c) It shall be theduty of the Commissioner to report to the board of directors when he hasreasonable cause to believe that any member insurer examined or being examinedat the request of the board of directors may be insolvent or in a financialcondition hazardous to the policyholders or the public.
(d) The board ofdirectors may, upon majority vote, make reports and recommendations to theCommissioner upon any matter germane to the solvency, liquidation,rehabilitation or conservation of any member insurer. Such reports andrecommendations shall not be considered public documents.
(e) The board ofdirectors may, upon majority vote, make recommendations to the Commissioner forthe detection and prevention of insurer insolvencies.
(f) The board ofdirectors may, at the conclusion of any domestic insurer insolvency in whichthe Association was obligated to pay covered claims, prepare a report on thehistory and causes of such insolvency, based on the information available tothe Association, and submit such report to the Commissioner. (1971,c. 670, s. 1; 1989, c. 206, s. 7; 1991, c. 720, s. 27; 1995, c. 360, s. 2(j).)
(b) To aid in thedetection and prevention of insurer insolvencies, the board of directors may,upon majority vote, request that the Commissioner order an examination of anymember insurer which the board in good faith believes may be in a financialcondition hazardous to the policyholders or the public. Within 30 days of thereceipt of such request, the Commissioner shall begin such examination. Theexamination may be conducted as an NAIC examination or may be conducted by suchpersons as the Commissioner designates. The examination report shall be treatedas are other examination reports. In no event shall such examination report bereleased to the board of directors prior to its release to the public, but thisshall not preclude the Commissioner from complying with subsection (c) below.The Commissioner shall notify the board of directors when the examination iscompleted. The request for an examination shall be kept on file by theCommissioner but it shall not be open to public inspection prior to the releaseof the examination report to the public.
(c) It shall be theduty of the Commissioner to report to the board of directors when he hasreasonable cause to believe that any member insurer examined or being examinedat the request of the board of directors may be insolvent or in a financialcondition hazardous to the policyholders or the public.
(d) The board ofdirectors may, upon majority vote, make reports and recommendations to theCommissioner upon any matter germane to the solvency, liquidation,rehabilitation or conservation of any member insurer. Such reports andrecommendations shall not be considered public documents.
(e) The board ofdirectors may, upon majority vote, make recommendations to the Commissioner forthe detection and prevention of insurer insolvencies.
(f) The board ofdirectors may, at the conclusion of any domestic insurer insolvency in whichthe Association was obligated to pay covered claims, prepare a report on thehistory and causes of such insolvency, based on the information available tothe Association, and submit such report to the Commissioner. (1971,c. 670, s. 1; 1989, c. 206, s. 7; 1991, c. 720, s. 27; 1995, c. 360, s. 2(j).)
