(1) The Director of the Department of Consumer and Business Services shall make or cause to be made an examination:
(a) At least once in five years, of each rating organization licensed in this state.
(b) As often as the director deems it expedient, of each advisory organization complying with and referred to in ORS 737.510 and of each organization referred to in ORS 737.390.
(2) The reasonable costs of any such examination shall be paid by the organization examined, upon presentation to it of a detailed account of such costs. The officers, manager, agents and employees of any such organization may be examined at any time under oath and shall exhibit all books, records, accounts, documents or agreements governing its methods of operation.
(3) All such examinations shall be conducted as provided in ORS 731.300 to 731.316.
(4) In lieu of any such examination the director may accept the report of an examination made by the insurance supervisory official of another state, pursuant to the laws of such state. [Amended by 1967 c.359 §329]
Section: Previous 737.380 737.385 737.386 737.390 737.505 737.510 737.512 737.515 737.520 737.525 737.526 737.530 737.535 737.540 737.545 NextLast modified: August 7, 2008