§ 31-14-112 — Examination of clubs; financial statement in lieu thereof

(a) Every motor club is subject to examination by the
commissioner in the manner and under the conditions provided for
examination of insurers pursuant to W.S. 26-2-116 through
26-2-118 and 26-2-120 through 26-2-122. In the examination the
assets of any motor club are such assets as are deemed by the
insurance commissioner to be available for the payment of the
obligations of the motor club.
(b) The expense of examination shall be paid by the motor
club.
(c) In lieu of examination under subsection (a) of this
section, the commissioner may accept a copy of the most recent
financial statement of the motor club which has been audited by
an independent certified public accountant demonstrating that
the motor club is solvent as determined by generally accepted
accounting principles on a going-concern basis.