20-394. Examination of rate service organizations and joint underwriting and joint reinsurance organizations
127 words·~1 min read·
/az/title-20/20-394A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The director, as often as considered necessary, may examine each rate service organization, each advisory organization and each group, association or other organization filing pursuant to section 20-391. The director shall examine only those activities conducted pursuant to this article. The director may examine the officers, manager, agents and employees of such organizations at any time under oath. The organization examined shall pay the reasonable costs of the examination upon presentation to it of a detailed account of the costs.
The organization examined shall exhibit all books, records, accounts, documents or agreements governing its method of operation. In lieu of the examination the director may accept the report of an examination made by the insurance supervisory official of another state, pursuant to the laws of such state.