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Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 379

previous next Effective - 28 Aug 1947bottom

  379.475.  Director to examine — powers — cost — director may accept examination by other state. — 1.  The director of the department of commerce and insurance shall have the power, at any time he may deem it advisable, to examine any insurer writing any class of insurance which is subject to the provisions of sections 379.420 to 379.510, any rating organization licensed under said sections, any advisory organization referred to in section 379.455, and every group, association, or other organization referred to in section 379.460.

  2.  The examination of an insurer may be made during the course of an examination pursuant to provisions of other laws of this state.

  3.  It shall be the duty of the director at least once every three years to make or cause to be made an examination of every rating organization licensed under sections 379.420 to 379.510.

  4.  During the course of any examination provided for in this section the officers, managers, agents and employees of the insurer, rating organization, advisory organization, or group, association or other organization may be examined under oath and shall exhibit all books, records, accounts, documents, or agreements governing its method of operation as may be requested by the director.

  5.  The reasonable cost of any examination provided for in this section shall be paid by the insurer, rating organization, advisory organization or group, association, or other organization undergoing such examination.

  6.  The director may accept the report of an examination made by the insurance supervisory official of another state in lieu of any examination provided for in this section.

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(L. 1947 V. II p. 254 § 4)


---- end of effective   28 Aug 1947 ----

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