The attorney shall make a report, under oath, to the commissioner covering each calendar year. Such report shall be made annually during the time limited for the filing of annual statements by insurers transacting the same class of insurance. It shall show the financial condition of the exchange.
The attorney shall at any time furnish such additional information and reports, other than names and addresses of subscribers, as the commissioner requires. The attorney shall not be required to furnish the names or addresses of any subscribers except in case of an unpaid final judgment against the exchange.
(Enacted by Stats. 1935, Ch. 145.)
The assets, business affairs and records of every exchange and its attorney shall be subject to examination by the commissioner at any reasonable time. The cost and expense of such examination shall be paid as prescribed in Section 736.
(Amended by Stats. 1947, Ch. 1008.)
The commissioner has:
(a)The right of examination of and supervision over reciprocal or interinsurance exchanges, their attorneys, agents and brokers.
(b)The right to hold and conduct hearings in the manner and under the same procedure as in the case of other insurers.
(Enacted by Stats. 1935, Ch. 145.)
The commissioner?s right of examination shall include the right to examine the records containing the names and addresses of the subscribers. Any information obtained from such records shall be confidential and the disclosure thereof, except under order of court, constitutes a breach of official duty.
(Enacted by Stats. 1935, Ch. 145.)
Where the principal office of the attorney is located in another State, the commissioner, in lieu of examination may accept a certified copy of the report of examination made by the insurance authority of another State.
(Enacted by Stats. 1935, Ch. 145.)