Montana Code Annotated
Part 11. Affiliation and Merger -- Holding Company Systems -- Own Risk and Solvency Assessment
33-2-1115. Examination

33-2-1115. Examination. (1) (a) In addition to the powers under Title 33, chapter 1, part 4, relating to the examination of insurers, the commissioner also has the power to order any insurer registered under 33-2-1111 to produce the records, books, or other information papers in the possession of the insurer or its affiliates that the commissioner determines are necessary to ascertain the financial condition or legality of conduct of the insurer.
(b) The information that the commissioner may request under subsection (1)(a) includes information necessary to ascertain the enterprise risk to the insurer by the ultimate controlling party or by any entity or combination of entities within the insurance holding company system or by the insurance holding company system on a consolidated basis.
(c) If the insurer fails to comply with the order, the commissioner may examine the affiliates to obtain the information.
(2) The commissioner may retain at the registered insurer's expense attorneys, actuaries, accountants, and other experts not otherwise a part of the commissioner's staff that may be reasonably necessary to assist in the conduct of the examination under subsection (1). Any persons retained are under the direction and control of the commissioner and are retained to act in a purely advisory capacity.
(3) Each registered insurer producing for examination records, books, and papers pursuant to subsection (1) is liable for and shall pay the expense of the examination.
(4) In the event the insurer fails to comply with an order, the commissioner may examine the affiliates to obtain the information.
(5) Nothing in this section limits the authority of the commissioner under 33-1-315 through 33-1-318 to issue subpoenas, administer oaths, examine under oath any person, compel testimony, issue penalties, or seek injunctions or other remedies to determine and ensure compliance with this section.
History: En. Sec. 6, Ch. 64, L. 1971; R.C.M. 1947, 40-5514; amd. Sec. 47, Ch. 596, L. 1993; amd. Sec. 30, Ch. 370, L. 2015; amd. Sec. 15, Ch. 9, L. 2017.

Structure Montana Code Annotated

Montana Code Annotated

Title 33. Insurance and Insurance Companies

Chapter 2. Regulation of Insurance Companies

Part 11. Affiliation and Merger -- Holding Company Systems -- Own Risk and Solvency Assessment

33-2-1101. Definitions

33-2-1102. Authorization of subsidiaries

33-2-1103. Additional investment authority -- exemption from other investment restrictions -- determination of qualification -- divestiture

33-2-1104. Acquisition or divestiture of control of or merger with domestic insurer -- filing requisites

33-2-1105. Approval by commissioner -- hearings -- notice

33-2-1106. Exemptions -- violations -- jurisdiction

33-2-1107. through 33-2-1110 reserved

33-2-1111. Registration of insurers -- requisites -- termination

33-2-1112. Exemptions -- disclaimer -- violations

33-2-1113. Transactions with affiliates -- standards

33-2-1114. Dividends and other distributions -- commissioner approval

33-2-1115. Examination

33-2-1116. Confidentiality of information

33-2-1117. Rules

33-2-1118. Injunctions

33-2-1119. Voting of securities -- prohibition -- injunction -- sequestration

33-2-1120. Registration, transaction, and reporting requirements -- administrative or civil penalties

33-2-1121. Receivership

33-2-1122. Revocation, suspension, or nonrenewal of insurer's license

33-2-1123. Judicial review -- mandamus

33-2-1124. Conflict with other laws

33-2-1125. Recovery of dividends

33-2-1126. through 33-2-1129 reserved

33-2-1130. Short title

33-2-1131. Purpose

33-2-1132. Definitions

33-2-1133. Risk management framework required

33-2-1134. Own risk and solvency assessment required

33-2-1135. ORSA summary report

33-2-1136. ORSA exemptions -- conditions -- waiver -- override

33-2-1137. Confidentiality

33-2-1138. Penalty

33-2-1139. reserved

33-2-1140. Groupwide supervision of internationally active insurance groups