(1) To ascertain compliance with the Property and Casualty Insurance Rate and Form Act, the director may, as often as is deemed to be expedient, make or cause to be made an examination of each advisory organization, statistical agent, joint underwriting pool, or joint reinsurance pool doing business in this state. The advisory organization, statistical agent, or pool examined shall pay the reasonable costs of any such examination. The officers, manager, agents, and employees of such advisory organization, statistical agent, or pool may be examined at any time under oath and shall exhibit all books, records, accounts, documents, or agreements governing its method of operation.

(2) In lieu of any such examination, the director may accept (a) the report of an examination made by the insurance supervisory official of another state or (b) the report of an independent certified public accountant in good standing with the American Institute of Certified Public Accountants. Every such advisory organization, statistical agent, joint underwriting pool, or joint reinsurance pool shall, within thirty days after the receipt of a final examination report of any other state, provide a copy of the report to the director. Every such advisory organization, statistical agent, joint underwriting pool, or joint reinsurance pool shall, within thirty days after the publication or public filing of a report made by an independent certified public accountant, provide a copy of the report to the director.