304.1 3-141 Examination of insurers, pools, advisory organizations, statistical agents, form providers, residual market, and joint underwriting organizations. (1) The commissioner may examine any insurer, pool, advisory organization, statistical agent, form pr ovider, or residual market or joint underwriting mechanism as deemed necessary to ascertain compliance with this chapter. Any examination made by the commissioner or by examiners designated by the commissioner shall be at the expense of the organization ex amined as specified in Subtitle 2 of KRS Chapter 304. (2) Every insurer, pool, advisory organization, statistical agent, and residual market or joint underwriting mechanism shall maintain reasonable records, adapted to its method of operation, containing i ts experience or the experience of its members. Records shall include the statistics and other information used by it in its activities. The records shall be available at all reasonable times and at a reasonable location to enable the commissioner to deter mine whether the activities of an insurer, pool, advisory organization, statistical agent, residual market or joint underwriting mechanism are in compliance with this enable the commissioner to deter mine whether the activities of an insurer, pool, advisory organization, statistical agent, residual market or joint underwriting mechanism are in compliance with this chapter. (3) In lieu of an examination, the commissioner may accept the report of an exam ination by the insurance supervisory official of another state, if the report is made pursuant to the laws of that state. Effective: July 15, 2010 History: Amended 2010 Ky. Acts ch. 24, sec. 1129, effective July 15, 2010. -- Amended 2000 Ky. Acts ch. 380, sec. 14, effective July 14, 2000. -- Created 1982 Ky. Acts ch. 278, sec. 13, effective July 15, 1982.
Kentucky Legal Code