§ 679B.250 — Conduct of examination; access to records; corrections; penalty

Nevada § 679B.250

• Jurisdiction: Nevada
• Title 57: INSURANCE
• Ch. 679B: Commissioner

Text

1. When the Commissioner determines to examine the affairs of any person, the Commissioner shall designate one or more examiners and instruct them as to the scope of the examination. The examiner shall, upon demand, exhibit the official credentials of the examiner to the person under examination.
2. The Commissioner shall conduct each examination in an expeditious, fair and impartial manner.
3. Upon any such examination the Commissioner, or the examiner if specifically so authorized in writing by the Commissioner, may administer oaths, and examine under oath any person as to any matter relevant to the affairs under examination or relevant to the examination.
4. Every person being examined, its officers, attorneys, employees, agents and representatives shall make freely available to the Commissioner or the examiners of the Commissioner the accounts, records, documents, files, information, assets and matters of the person examined in his or her possession or control relating to the subject of the examination and shall facilitate the examination.
5. If the Commissioner or examiner finds any accounts or records to be inadequate, or inadequately kept or posted, the Commissioner may employ experts to reconstruct, rewrite, post or balance them at the expense of the person being examined if that person has failed to maintain, complete or correct the records or accounting after the Commissioner or examiner has given the person written notice and a reasonable opportunity to do so.
6. Neither the Commissioner nor any examiner may remove any record, account, document, file or other property of the person being examined from the offices or place of the person examined except with the written consent of the person before removal or pursuant to an order of court duly obtained. This provision does not affect the making and removal of copies or abstracts of any such record, account, document or file.
7. Any person who refuses without just cause to be examined under oath or who willfully obstructs or interferes with the examiners in the exercise of their authority pursuant to this section is guilty of a misdemeanor.
8. This chapter does not limit the Commissioner’s authority:
(a) To terminate or suspend an examination in order to pursue other legal or regulatory action.
(b) During any hearing or any legal action, to use and, if so ordered by a court, to make public a final or preliminary report of an examination, working papers or other documents of an examiner or insurer, or any other information discovered or developed during the course of an examination. Such documents must be given their appropriate evidentiary weight and must not be accepted as prima facie evidence of the facts contained therein.

Legislative History

(Added to NRS by 1971, 1567 ; A 1995, 1750 )