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§ 1232. Examinations

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 40 P.S. Insurance

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 40 P.S. Insurance (Refs & Annos)
Chapter 5. Insurance Rates
Fire and Marine Insurance (Refs & Annos)
40 P.S. § 1232
§ 1232. Examinations
The commissioner shall, at least once in five years, make or cause to be made an examination of each rating organization licensed in this Commonwealth, as provided in section six1 and he may, as often as he may deem it expedient, make or cause to be made an examination of each advisory organization referred to in section ten2 and of each group, association or other organization referred to in section eleven.3 The reasonable costs of any such examination shall be paid by the rating organization, advisory organization, or group, association or other organization examined upon presentation to it of a detailed account of such costs. The officers, manager, agents and employes of such rating organization, advisory organization, or group, association or other organization may be examined at any time under oath and shall exhibit all books, records, accounts, documents, or agreements governing its method of operation. The commissioner shall furnish two copies of the examination report to the organization, group or association examined and shall notify such organization, group or association that it may, within twenty days thereafter, request a hearing on said report or on any facts or recommendations therein. Before filing any such report for public inspection, the commissioner shall grant a hearing to the organization, group or association examined. The report of any such examination, when filed for public inspection, shall be admissible in evidence in any action or proceeding brought by the commissioner against the organization, group or association examined, or its officers or agents, and shall be prima facie evidence of the facts stated therein. The commissioner may withhold the report of any such examination from public inspection for such time as he may deem proper. In lieu of any such examination the commissioner may accept the report of an examination made by the insurance supervisory official of another state, pursuant to the laws of such state.

Credits

1947, June 11, P.L. 551, § 12. Reenacted and amended 1961, Aug. 23, P.L. 1053, § 1.

Footnotes

40 P.S. § 1226.
40 P.S. § 1230.
40 P.S. § 1231.
40 P.S. § 1232, PA ST 40 P.S. § 1232
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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