550.359 Corporation examination by insurance commissioner; expenses.
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550.359 Corporation examination by insurance commissioner; expenses.
Sec. 9.
The commissioner of insurance, or any deputy, examiner, or other person whom the commissioner appoints, may visit and examine into the affairs of a corporation, have free access to all of the books, papers, and documents that relate to the business of the corporation, may summon and qualify witnesses under oath, and examine corporation officers, agents, employees, or other persons having knowledge of the corporation's affairs, transactions, and conditions. Except as provided in section 9a, per diem, travel, and other necessary expenses in connection with an examination under this section shall be paid by the corporation.
History: 1963, Act 125, Eff. Sept. 6, 1963 ;-- Am. 1994, Act 168, Imd. Eff. June 17, 1994
Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the insurance bureau and the commissioner of insurance to the commissioner of the office of financial and insurance services and the office of financial and insurance services, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.