§ 27-13-1 - Examination into affairs of company. - Rhode Island Statutes

SECTION 27-13-1

   § 27-13-1  Examination into affairs ofcompany. – The insurance commissioner, either personally or by a committee appointed byhim or her consisting of one or more persons not directors, officers, or agentsof any life, fire, marine, fire and marine, or casualty insurance company,doing business in this state, may at any time examine into the affairs of anylife, fire, marine, fire and marine, casualty, or other insurance company,incorporated by or doing business in this state. The officers or agents of anyinsurance company shall exhibit its books to the insurance commissioner orcommittee, and facilitate its examination, and the insurance commissioner orthe committee may examine, under oath, the officers and agents of any insurancecompany in relation to its affairs. The insurance commissioner shall, if he orshe deems it advisable, publish the result of the investigation in one or morenewspapers published in the state. The total cost of those examinations shallbe borne by the examined companies and shall be one hundred fifty percent(150%) of the total salaries paid to the examining personnel of the banking andinsurance division engaged in those examinations less any salary reimbursementsand shall be paid to the insurance commissioner to and for the use of thestate. That assessment shall be in addition to any taxes and fees payable tothe state.