§ 58-19-35. Examination. - North Carolina Statutes

§58‑19‑35.  Examination.

(a)        Subject to thelimitation contained in this section and in addition to the powers that theCommissioner has under other provisions of Articles 1 through 64 of thisChapter relating to the examination of insurers, the Commissioner also has thepower to order any insurer registered under G.S. 58‑19‑25 or anyacquiring party to produce such records, books, or other information in thepossession of the insurer or its affiliates or the acquiring party as arereasonably necessary to ascertain the financial condition of such insurer oracquiring party or to determine compliance with Articles 1 through 64 of thisChapter. In the event such insurer or acquiring party fails to comply with suchorder, the Commissioner shall have the power to examine such insurer or itsaffiliates or such acquiring party to obtain such information.

(b)        The Commissionermay retain, at the expense of the registered insurer or acquiring party that isbeing examined, such attorneys, actuaries, economists, accountants, and otherexperts not otherwise a part of the Commissioner's staff as are reasonablynecessary to assist in the conduct of the examination under subsection (a) ofthis section. Any persons so retained shall be under the direction and controlof the Commissioner and shall act in a purely advisory capacity.

(c)        Repealed by SessionLaws 1995, c. 360, s. 2(h).

(d)        The Commissionershall exercise his power under subsection (a) of this section only if theexamination of the insurer or acquiring party under other provisions ofArticles 1 through 64 of this Chapter is inadequate or the interests of thepolicyholders of such insurer may be adversely affected. (1989,c. 722, s. 1; 1995, c. 193, s. 27; c. 360, s. 2(h).)