§ 27-6-39 - Examination of rating and advisory organizations and underwriting and reinsurance groups.
SECTION 27-6-39
§ 27-6-39 Examination of rating andadvisory organizations and underwriting and reinsurance groups. – The commissioner shall, at least once in five (5) years, make or cause to bemade an examination of each rating organization licensed in this state asprovided in § 27-6-23 and the commissioner may, as often as he or she maydeem it expedient, make or cause to be made an examination of each advisoryorganization referred to in § 27-6-33 and of each group, association, orother organization referred to in § 27-6-37. The total cost of thoseexaminations shall be borne by the examined organization and shall be onehundred fifty percent (150%) of the total salaries paid to the examiningpersonnel of the banking and insurance division engaged in those examinationsless any salary reimbursements and shall be paid to the insurance commissionerto and for the use of the state. This assessment shall be in addition to anytaxes and fees payable to the state. The officers, manager, agents, andemployees of the rating organization, advisory organization, or group,association, or other organization may be examined at any time under oath andshall exhibit all books, records, accounts, documents, or agreements governingits method of operation. In lieu of any examination the commissioner may acceptthe report of an examination made by the insurance supervisory official ofanother state, pursuant to the laws of that state.