Sec. 38a-14a. Examination of the financial condition of insurance companies.
Sec. 38a-14a. Examination of the financial condition of insurance companies.
(a) Subject to the limitation contained in this section and in addition to the powers
which the Insurance Commissioner has under sections 38a-14 and 38a-15 relating to
the examination of insurance companies, the commissioner shall have the power to order
any insurance company registered under section 38a-135 to produce such records, books
or other information in the possession of the insurance company or its affiliates as are
reasonably necessary to ascertain the financial condition of such insurance company or
to determine compliance with sections 38a-129 to 38a-140, inclusive. In the event such
insurance company fails to comply with such order, the commissioner shall have the
power to examine any such affiliate to obtain such information.
(b) The commissioner may engage the services of attorneys, actuaries, accountants
and other experts not otherwise a part of the commissioner's staff, at the registered
insurance company's expense, as shall be reasonably necessary to assist in the conduct
of the examination under subsection (a) of this section. All persons so engaged shall be
under the direction and control of the commissioner and shall act in a purely advisory
capacity.
(c) Each registered insurance company producing for examination records, books
and papers pursuant to subsection (a) of this section shall be liable for and shall pay the
expense of such examination in accordance with sections 38a-14 and 38a-15.
(P.A. 92-112, S. 21, 35.)