29.0211 Examination of insurers-Audit.

Cite as [A.S.C.A. § 29.0211]

For the purposes of determining its financial condition, ability to fulfill and manner of ful-fillment of its obligation, the nature of its operations, and compliance with the insurance law, the Commissioner shall annually examine every domestic insurer, including an audit of the financial affairs of each insurer. The Commissioner may at any time make an examination of any insurer, or a person holding capital stock of any insurer for the purpose of controlling the management thereof as a voting trustee or otherwise, or both. Examination of an alien insurer shall be limited to its insurance transactions, assets, trust deposits and affairs within American Samoa, except as otherwise required by the Commissioner.

History: 1974, PL 13-58 § 1.