Sec. 1244. records, annual statement, and audits

291 words·~1 min read·/statute-compilations/comps-10343/sec-1244

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## Sec. 1244 records, annual statement, and audits **[**[12 U.S.C. 1749bbb–14](/us/usc/t12/s1749bbb–14)**]** ###

(a)Any insurer, pool, or property owner acquiring reinsurance or direct insurance under this title shall furnish the Director with such summaries and analyses of information in its records as may be necessary to carry out the purposes of this title, in such form as the Director, in cooperation with the State insurance authority, shall, by rules and regulations prescribe. The Director shall make use of State insurance authority examination reports and facilities to the maximum extent feasible. ###

(b)Any insurer or pool acquiring reinsurance under this title shall file with the Director a true and correct copy of any annual statement, or amendment thereof, filed with the State insurance authority of its domiciliary State, at the time it files such statement or amendment with such State insurance authority. ###

(c)Any insurer or other person executing any contract, agreement, or other appropriate arrangement with the Director under section 1222 or section 1242 shall keep reasonable records which fully disclose the total costs of the programs undertaken or the services being rendered, and such other records as will facilitate an effective audit of liability for reinsurance or direct insurance payments by the Director. ###

(d)The Director and the Comptroller General of the United States, or any of their duly authorized representatives, shall have access for the purpose of investigation, audit, and examination to any books, documents, papers, and records of any insurer or other person that are pertinent to the costs of any program undertaken for, or services rendered to, the Director. Such audits shall be conducted to the maximum extent feasible in cooperation with the State insurance authorities and through the use of their examining facilities.

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12 USC 1749bbb–14

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Sec. 1244

records, annual statement, and audits

Cite12 USC 1749bbb–14

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