Section 14 Rating and advisory organizations; examination - Massachusetts Statutes

Section 14. The commissioner shall, at least once in five years, make or cause to be made an examination of each rating organization licensed in this commonwealth as provided in section eight and he may, as often as he may deem it expedient, make or cause to be made an examination of each advisory organization referred to in section twelve and of each group, association or other organization referred to in section thirteen. The reasonable costs of any such examination shall be paid by the rating organization, advisory organization, or group, association or other organization examined, upon presentation to it of a detailed account of such costs. The officers, manager, agents and employees of such rating organization, advisory organization, or group, association or other organization may be examined at any time under oath and shall exhibit all books, records, accounts, documents, or agreements governing its method of operation. In lieu of any such examination the commissioner may accept the report of an examination made by the insurance supervisory official of another state, pursuant to the laws of such state.