(a) The Insurance Commissioner shall have power to examine and investigate the affairs of every person engaged in the business of insurance in this state in order to determine whether the person has been or is engaged in any unfair method of competition or in any unfair or deceptive act or practice prohibited by ยง 23-66-205.
(b) (1) If the person engaged in the business of insurance is a depository institution, the commissioner shall have the power to examine and investigate the insurance activities of the depository institution in order to determine whether the depository institution has been or is engaged in any unfair trade practice prohibited by this subchapter.
(2) Before beginning an examination or investigation under subdivision (b)(1) of this section, the commissioner shall notify the appropriate bank regulatory agency of the commissioner's intent to examine or investigate the depository institution and shall advise the appropriate federal banking agency of the suspected violations of state law.
Section: Previous 23-66-202 23-66-203 23-66-204 23-66-205 23-66-206 23-66-207 23-66-208 23-66-209 23-66-210 23-66-211 23-66-212 23-66-213 23-66-214 23-66-215 NextLast modified: November 15, 2016