§ 4496 - Examination of foreign and alien societies - Vermont Statutes

§ 4496. Examination of foreign and alien societies

The commissioner of banking, insurance, securities, and health care administration, or any person whom he may appoint, may examine any foreign or alien society transacting or applying for admission to transact business in this state. He may employ assistants and he, or any person he may appoint, shall have free access to all books, papers and documents that relate to the business of the society. He may in his discretion accept, in lieu of the examination, the examination of the insurance department of the state, territory, district, province or country where the society is organized. The compensation and actual expenses of the examiners making any examination or general or special valuation shall be paid by the society examined or by the society whose certificate obligations have been valued, upon statements furnished by the commissioner of banking, insurance, securities, and health care administration. (1959, No. 197, § 36, eff. Nov. 22, 1959; amended 1989, No. 225 (Adj. Sess.), § 25(b); 1995, No. 180 (Adj. Sess.), § 38(a).)