[ §488-8] Access to records.
196 words·~1 min read·
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[ §488-8] Access to records.
(a)Every plan and its owners, operators, officers, employees, and representatives shall:
(1)Be subject to investigation or examination by the commissioner;
(2)Produce and make freely accessible to the commissioner all accounts, records, documents, and files in the person's possession or control relating to the subject of the investigation or examination; and
(3)Cooperate with any investigation or examination by the commissioner.
(b)If the commissioner finds the accounts or records of a plan, or of its owners, operators, officers, employees, or representatives, to be inadequate, improperly kept, or improperly posted, and if the plan has failed to correct the accounts or records after the commissioner has given the plan written notice and a reasonable opportunity to do so, the commissioner may employ experts to rewrite, post, or balance the accounts at the expense of the plan being examined.
(c)A plan administrator shall provide a written response within seven days to any written inquiry made by the commissioner. The response shall be more than an acknowledgment that the commissioner's communication was received and shall adequately address the concerns stated in the communication. [L 2011, c 186, pt of §1]