§ 23-93-114 — Investigations and examinations

Arkansas § 23-93-114

• Jurisdiction: Arkansas
• Title: 23

Text

(a) The State Insurance Department may conduct any investigation or examination deemed necessary by the Insurance Commissioner: (1) For the public health, safety, and welfare of a resident or potential resident of a facility; (2) In response to a written complaint filed by a resident or prospective resident; (3) If it appears from the filings required by this subchapter that the solvency of the facility is in question; or (4) To determine whether any provision of this subchapter or any rule or order has been violated. (b) The commissioner may conduct any investigation in person or direct any department employee to act on the commissioner's behalf. For any on-site investigation, the expenses incurred, including compensation of any department examiner, shall be paid by the facility being investigated. For the purposes of this section, the provisions of § 23-61-206 shall apply. (c) The commissioner may conduct a financial examination. The commissioner may utilize department examiners or he or she may retain independent certified public accountants to conduct the examination. Each facility being examined shall pay the department the expenses incurred pursuant to § 23-61-206 . The cost of any retained accountants shall not be in excess of the amount that could be charged for department examiners. (d) When the services of an actuary are deemed necessary in any investigation or examination, the commissioner may retain an independent actuary with those expenses being paid by the facility. (e) The commissioner or any officer designated by the commissioner may adminster oaths and affirmations, issue subpoenas, hear testimony, and take evidence in reference to any investigation or examination conducted pursuant to this subchapter.

Legislative History

Acts 1987, No. 329, § 11; 1989, No. 203, § 4.