§ 33-41-16 - Examination by Commissioner or agent - Georgia Statutes

O.C.G.A. 33-41-16 (2010)
33-41-16. Examination by Commissioner or agent

(a) The Commissioner or his designated agent may visit each captive insurance company at any time and examine its affairs in order to ascertain its financial condition, its ability to fulfill its contractual obligations, and its compliance with this chapter. For these purposes, the Commissioner or his designated agent shall have free access to all of the books and records relating to the business of the captive insurance company. The expenses and charges of any examination conducted pursuant to this Code section shall be paid directly by the captive insurance company examined.

(b) When necessary or desirable to assist in any examination under this Code section, the Commissioner may retain such independent agents as described in subsection (b) of Code Section 33-41-10, as the Commissioner deems appropriate, in order to facilitate his examination under this Code section. The expenses and charges of such persons so retained or designated shall be paid directly by the captive insurance company.