56-11-107 - Financial condition of insurer or health maintenance organization.
56-11-107. Financial condition of insurer or health maintenance organization.
(a) Power of Commissioner. Subject to the limitation contained in this section, and in addition to the powers that the commissioner has under chapters 1 and 32 of this title, relating to the examination of insurers or health maintenance organizations, the commissioner also has the power to order any insurer or health maintenance organization registered under § 56-11-105 to produce any records, books, or other information papers in the possession of the insurer or health maintenance organization or its affiliates that are reasonably necessary to ascertain the financial condition of the insurer or health maintenance organization or to determine compliance with this chapter. In the event the insurer or health maintenance organization fails to comply with the order, the commissioner shall have the power to examine the affiliates to obtain the information.
(b) Use of Consultants. The commissioner may retain, at the registered insurer or health maintenance organization's expense, attorneys, actuaries, accountants and other experts, not otherwise a part of the commissioner's staff, that shall be reasonably necessary to assist in the conduct of the examination under subsection (a). Any persons so retained shall be under the direction and control of the commissioner and shall act in a purely advisory capacity.
(c) Expenses. Each registered insurer or health maintenance organization producing for examination records, books and papers pursuant to subsection (a) shall be liable for and shall pay the expense of the examination in accordance with chapters 1 and 32 of this title.
[Acts 1986, ch. 572, § 7; 2000, ch. 708, § 3f; T.C.A. § 56-11-207.]