Vermont § 3573 - Conduct of examinations

§ 3573. Conduct of examinations

• (a) Upon determining that an examination should be conducted, the Commissioner or the
  Commissioner’s designee shall issue an examination order appointing one or more examiners
  to perform the examination and instructing them as to the scope of the examination.
  In conducting a financial or a market conduct examination, the examiner shall observe
  those guidelines and procedures set forth in the Examiners’ Handbook adopted by the
  National Association of Insurance Commissioners as amended from time to time. The
  Commissioner may also use such other guidelines or procedures as the Commissioner
  may deem necessary or appropriate under the circumstances. (b) When making an examination under this section, the Commissioner may retain attorneys,
  appraisers, independent actuaries, independent certified public accountants, or other
  professionals and specialists, the cost of which shall be borne by the company that
  is the subject of the examination. (c) The Commissioner is authorized to terminate or suspend any examination in order to
  pursue other legal or regulatory action pursuant to the insurance laws of this State. (d) Findings of fact made pursuant to any examination shall be prima facie evidence in
  any legal or regulatory action. (e) The Commissioner is authorized to use and make public any final or preliminary examination
  report, any examiner or company work papers or other documents, or any other information
  discovered or developed during the course of any examination in the furtherance of
  any legal or regulatory action. (Added 1991, No. 249 (Adj. Sess.), § 5; amended 1999, No. 38, § 1, eff. May 20, 1999.)