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§ 14-125. Power of Commissioner to inspect and examine affairs of corporation

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 14. Entities that Act as Health Insurers
Subtitle 1. Nonprofit Health Service Plans (Refs & Annos)
Part IV. Regulatory Authority of Commissioner
MD Code, Insurance, § 14-125
§ 14-125. Power of Commissioner to inspect and examine affairs of corporation
Currentness
In general
(a) The Commissioner or an examiner of the Administration may inspect and examine the affairs of a corporation authorized under this subtitle and an affiliate or subsidiary of a corporation authorized under this subtitle.
Access to books and documents of corporation and subpoena powers
(b) In conducting an inspection or examination under this section, the Commissioner or examiner:
(1) shall have free access to all of the books and documents of the corporation and its affiliates or subsidiaries; and
(2) may subpoena and examine under oath any person, including an officer, agent, or employee of the corporation or its affiliates and subsidiaries, in relation to the affairs, transactions, and condition of the corporation or its affiliates and subsidiaries.
Delegation of authority
(c) The Commissioner may delegate the authority provided under this section to a designee of the Commissioner.
Expenses of examination
(d) The corporation or its affiliate or subsidiary whose affairs are examined under this section shall pay the expenses of examination in accordance with § 2-208 of this article.

Credits

Added by Acts 1997, c. 35, § 2, eff. Oct. 1, 1997.
Formerly Art. 48A, § 358.
MD Code, Insurance, § 14-125, MD INSURANCE § 14-125
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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