Sec. 38a-14a. Examination of the financial condition of insurance companies. - Connecticut Statutes

      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.)