Indiana Code 27-1-3.1-11. Review of report; order
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Sec. 11. (a) Within thirty (30) days after the end of the period allowed for the receipt of written submissions or rebuttals, the commissioner shall fully consider and review the report, together with any written submissions or rebuttals and any relevant portions of the examiner‘s workpapers, and enter an order:
(2) rejecting the examination report with directions to the examiners to reopen the examination for purposes of obtaining additional data, documentation or information, and refiling the report under this chapter; or
(1) adopting the examination report as filed or with modification or corrections;
Terms Used In Indiana Code 27-1-3.1-11
- commissioner: refers to the insurance commissioner appointed under IC 27-1-1-2. See Indiana Code 27-1-3.1-1
- company: means any person engaging in or proposing or attempting to engage in any transaction or kind of insurance or surety business and any person or group of persons who may otherwise be subject to the administrative, regulatory, or taxing authority of the commissioner. See Indiana Code 27-1-3.1-2
- examiner: means any individual or firm authorized by the commissioner to conduct an examination under this chapter. See Indiana Code 27-1-3.1-4
- Testimony: Evidence presented orally by witnesses during trials or before grand juries.
(3) calling for an investigatory hearing with no less than twenty (20) days notice to the company for purposes of obtaining additional documentation, data, information and testimony.
(b) If the examination report reveals that the company is operating in violation of any law, regulation, or prior order of the commissioner, the commissioner may order the company to take any action the commissioner considers necessary and appropriate to cure that violation.
As added by P.L.26-1991, SEC.5.