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GEORGIA STATUTES AND CODES
§ 33-13-6 - Power to examine papers to ascertain financial condition or legality of conduct of insurers; examination of affiliates; retention of experts; payment of expenses
O.C.G.A. 33-13-6 (2010)
33-13-6. Power to examine papers to ascertain financial condition or legality of conduct of insurers; examination of affiliates; retention of experts; payment of expenses
(a) Subject to the limitation contained in this Code section and in addition to the powers which the Commissioner has under this title relating to the examination of insurers, the Commissioner shall also have the power to order any insurer registered under Code Section 33-13-4 to produce any records, books, or other information papers in the possession of the insurer or its affiliates as shall be necessary to ascertain the financial condition or legality of conduct of the insurer. In the event the insurer fails to comply with the order, the Commissioner shall have the power to examine the affiliates to obtain such information.
(b) The Commissioner shall exercise his power under subsection (a) of this Code section only if the examination of the insurer under other chapters of this title is inadequate or if the interests of the policyholders of the insurer may be adversely affected.
(c) The Commissioner may retain at the registered insurer's expense such attorneys, actuaries, accountants, and other experts not otherwise a part of the Commissioner's staff as shall be reasonably necessary to assist in the conduct of the examination under subsection (a) of this Code section. Any persons so retained shall be under the direction and control of the Commissioner and shall act in a purely advisory capacity.
(d) Each registered insurer producing records, books, and papers for examination pursuant to subsection (a) of this Code section shall be liable for and shall pay the expense of the examination in accordance with Code Section 33-2-15.
(e) All filings and registrations required by this Code section shall be accompanied by a fee or fees as provided in Code Section 33-8-1.
33-13-6. Power to examine papers to ascertain financial condition or legality of conduct of insurers; examination of affiliates; retention of experts; payment of expenses
(a) Subject to the limitation contained in this Code section and in addition to the powers which the Commissioner has under this title relating to the examination of insurers, the Commissioner shall also have the power to order any insurer registered under Code Section 33-13-4 to produce any records, books, or other information papers in the possession of the insurer or its affiliates as shall be necessary to ascertain the financial condition or legality of conduct of the insurer. In the event the insurer fails to comply with the order, the Commissioner shall have the power to examine the affiliates to obtain such information.
(b) The Commissioner shall exercise his power under subsection (a) of this Code section only if the examination of the insurer under other chapters of this title is inadequate or if the interests of the policyholders of the insurer may be adversely affected.
(c) The Commissioner may retain at the registered insurer's expense such attorneys, actuaries, accountants, and other experts not otherwise a part of the Commissioner's staff as shall be reasonably necessary to assist in the conduct of the examination under subsection (a) of this Code section. Any persons so retained shall be under the direction and control of the Commissioner and shall act in a purely advisory capacity.
(d) Each registered insurer producing records, books, and papers for examination pursuant to subsection (a) of this Code section shall be liable for and shall pay the expense of the examination in accordance with Code Section 33-2-15.
(e) All filings and registrations required by this Code section shall be accompanied by a fee or fees as provided in Code Section 33-8-1.
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