20-3206. Rule making; examinations
215 words·~1 min read·
/az/title-20/20-3206A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. The director may adopt rules reasonably necessary to regulate life settlements and transactions consistent with the provisions of this chapter.
B. The director, whenever the director deems it reasonably necessary to protect the interests of the public, may examine the business and affairs of any licensee or applicant for a license. The director may order any licensee or applicant to produce any records, books, files or other information to ascertain whether or not the licensee or applicant is acting or has acted in violation of this title or otherwise contrary to the interests of the public. The licensee or applicant shall pay any expenses incurred in conducting any examination.
C. In lieu of an examination of any foreign or alien licensee licensed in this state, the director, at the director's discretion, may accept an examination report on the licensee prepared by the director for the licensee's state of domicile or port-of-entry state.
D. Names of and individual identification data for all owners and insureds is private and confidential information and shall not be disclosed by the director unless required by law.
E. The provider shall maintain records of all consummated transactions and life settlement contracts for three years after the death of the insured. The director may inspect these records during reasonable business hours.