Effective - 28 Aug 2015
382.220. Director, powers of — insurer liable for examination costs. — 1. Subject to the limitation contained in this section and in addition to all the other powers with which the director is vested by law relating to the examination of insurers, the director may examine any insurer registered under the provisions of sections 382.100 to 382.180 and its affiliates to ascertain the financial condition of the insurer including the enterprise risk to the insurer by the ultimate controlling party, by any entity or combination of entities within the insurance holding company system, or by the insurance company system on a consolidated basis.
2. The director may order any insurer registered under sections 382.100 to 382.180 to produce such records, books, or other information papers in the possession of the insurer or its affiliates as are reasonably necessary to determine compliance with this chapter.
3. To determine compliance with this chapter, the director may order any insurer registered under sections 382.100 to 382.180 to produce information not in the possession of the insurer if the insurer is able to obtain access to such information under contractual relationships, statutory obligations, or other methods. In the event the insurer is unable to obtain the information requested by the director, the insurer shall provide the director with a detailed explanation of the reason that the insurer is unable to obtain the information and the identity of the holder of such information. Whenever it appears to the director that the detailed explanation is without merit, the director shall have the power to examine the insurer to determine compliance with this section pursuant to the director's authority under section 374.205 and this section.
4. The director may retain at the registered insurer's expense such attorneys, actuaries, accountants and other experts not otherwise a part of the director's staff as shall be reasonably necessary to assist in the conduct of the examination under this section. Any persons so retained shall be under the direction and control of the director and shall act in a purely advisory capacity.
5. Each registered insurer producing for examination records, books and papers pursuant to this section shall be liable for and shall pay the expense of such examination in accordance with the provisions of section 374.220.
6. In the event the insurer fails to comply with an order, the director shall have the power to examine the affiliates to obtain the information. The director shall have the power to issue subpoenas, administer oaths, and examine under oath any person for purposes of determining compliance with this section. Upon the failure or refusal of any person to obey a subpoena, the director may petition a court of competent jurisdiction, and upon proper showing, the court may enter an order compelling the witness to appear and testify or produce documentary evidence. Failure to obey the court order shall be punishable as contempt of court. Every person shall be obligated to attend as a witness at the place specified in the subpoena, when subpoenaed, anywhere within the state. He or she shall be entitled to the same fees and mileage, if claimed, as a witness in section 491.280, which fees, mileage, and actual expense, if any, necessarily incurred in securing the attendance of witnesses and their testimony, shall be itemized, charged against, and paid by the company being examined.
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(L. 1971 S.B. 101 § 25, A.L. 1992 H.B. 1574, A.L. 2015 H.B. 50)
Structure Missouri Revised Statutes
Title XXIV - Business and Financial Institutions
Chapter 382 - Insurance Holding Companies
Section 382.010 - Definitions.
Section 382.020 - Domestic insurers, authorized investments, ownership and management practices.
Section 382.030 - Disposal of investment required, when.
Section 382.050 - Statement, contents.
Section 382.070 - Excepted transactions.
Section 382.080 - Prohibited acts.
Section 382.090 - Jurisdiction, acceptance of — service, how had.
Section 382.100 - Registration required.
Section 382.110 - Registration, form, contents, exempted matter.
Section 382.120 - Information to be kept current, when changes reported.
Section 382.130 - Termination of registration, when.
Section 382.140 - Consolidated registration statements or amendments, when.
Section 382.150 - Registration for affiliates authorized.
Section 382.160 - Exemption from registration and reports, how and when.
Section 382.170 - Disclaimer of affiliation, effect of.
Section 382.175 - Enterprise risk report, contents, filing of, due date.
Section 382.177 - Liquidity stress test, filing of — scope criteria — NAIC compliance.
Section 382.190 - Transactions with affiliates, how conducted.
Section 382.195 - Prohibited transactions, exceptions.
Section 382.200 - Reasonable surplus, how determined.
Section 382.220 - Director, powers of — insurer liable for examination costs.
Section 382.240 - Rules and regulations, how issued.
Section 382.250 - Injunction, when authorized.
Section 382.265 - Penalties, certain actions.
Section 382.270 - Criminal proceedings, when and where commenced, penalty.
Section 382.275 - False reports, filing of, penalty.
Section 382.280 - Director to take possession, when.
Section 382.290 - Revocation of insurer's license, when.
Section 382.300 - Appeals from director's action, procedure.
Section 382.400 - Definitions.
Section 382.402 - Applicability of law.
Section 382.407 - Notice to insured, producer to provide, contents.
Section 382.409 - Noncompliance with law, powers of director — receiver in liquidation, powers.
Section 382.500 - Applicability — findings of general assembly.
Section 382.505 - Definitions.
Section 382.510 - Risk management framework to be maintained.
Section 382.515 - ORSA to be conducted, when.
Section 382.520 - ORSA summary report required, when, contents.
Section 382.525 - Exemptions — waiver — ORSA required, when.
Section 382.540 - Violation, failure to file ORSA summary report.
Section 382.545 - Severability clause.
Section 382.550 - Effective date — first filing date.
Section 382.600 - Purpose — applicability.
Section 382.605 - Definitions.
Section 382.615 - CGAD inquiries, responses to — recordkeeping.
Section 382.630 - Failure to timely file, penalty — enforcement.