Section 401-B:6 Examination. - New Hampshire Statutes

   I. Power of Commissioner. Subject to the limitation contained in this paragraph and in addition to the powers which the commissioner has under Title XXXVII relating to the examination of insurers, the commissioner shall also have the power to order any licensed insurer to produce such 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 such insurer. In the event such insurer fails to comply with such order, the commissioner shall have the power to examine such affiliates to obtain such information.
   II. Purpose and Limitation of Examination. The commissioner shall exercise his power under RSA 401-B:6, I, only if the examination of the insurer under Title XXXVII is inadequate or the interests of the policyholders of such insurer or of the public may be adversely affected.
   III. Use of Consultants. The commissioner may retain , without appropriation under RSA 9, without qualifying as a department expenditure under RSA 4:15, and at the 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 RSA 401-B:6, I. The company shall pay the retained experts directly for these costs. Any persons so retained shall be under the direction and control of the commissioner and shall act in a purely advisory capacity.
   IV. Expenses. Each registered insurer producing for examination records, books and papers pursuant to RSA 401-B:6, I, shall be liable for, and shall pay the expense of, such examination.
   V. Examination Expenses of Acquiring Parties. The expenses of examinations conducted pursuant to acquisitions under RSA 401-B:3 shall be borne by the acquiring party.

Source. 1971, 176:1. 1991, 99:8, eff. Jan. 1, 1992. 2007, 255:8, eff. Jan. 1, 2008.