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Section 288. Every holding company and every controlled person within a holding - Insurance Code (usually included in commercial codals)

Section 288. Every holding company and every controlled person within a holding of Insurance Code (usually included in commercial codals). Section 288. Every holding company and every controlled person within a holding company system shall be subject to examination by order of the Co

  • Subjects 9 Bar syllabus groups
  • Codals 48 Primary legal sources

Insurance Code (usually included in commercial codals)

Section 288. Every holding company and every controlled person within a holding company system shall be subject to examination by order of the Commissioner if he has cause to believe that the operations of such persons may materially affect the operations, management or financial condition of any controlled insurer with the system and that he is unable to obtain relevant information from such controlled insurer. The grounds relied upon by the Commissioner for such examination shall be stated in his order, which order shall be subject to judicial review only at the instance of the person sought to be examined. Such examination shall be confined to matters specified in the order. The cost of such examination shall be assessed against the person examined and no portion thereof shall thereafter be reimbursed to it directly or indirectly by the controlled insurer.

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