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§ 626.16. Examination and investigation of books and records

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 40 P.S. InsuranceEffective: December 31, 2002

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 40 P.S. Insurance (Refs & Annos)
Chapter 2. Insurance Companies (Refs & Annos)
Article IV-a. Life and Endowment Insurance and Annuities
Viatical Settlements Act (Refs & Annos)
Effective: December 31, 2002
40 P.S. § 626.16
§ 626.16. Examination and investigation of books and records
(a) Examination and investigation.--A viatical settlement provider, person selling viatical products or effectuating viatical settlements and viatical settlement broker shall be subject to examination and investigation by the department.
(b) Maintenance and books and records.--Every viatical settlement provider and viatical settlement broker shall maintain and make available all books, records, accounts and other files relating to its engaging in the business of viatical settlements, and such records shall be made available for examination and inspection by the department in a form usable by the department for five years.
(c) Costs of examination.--All the expenses incurred in and about the examination of any viatical settlement provider or viatical settlement broker, including compensation of department employees assisting in said examination and any other professionals or specialists retained in said examination, shall be charged to and paid by the viatical settlement provider or viatical settlement broker.

Credits

2002, July 4, P.L. 699, No. 107, § 16, effective in 180 days.
40 P.S. § 626.16, PA ST 40 P.S. § 626.16
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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