Illinois General Assembly - Illinois Compiled Statutes

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215 ILCS 5/465

(215 ILCS 5/465) (from Ch. 73, par. 1065.12)

Sec. 465.

Examinations.

The Director shall, at least once in five years, make or cause to be
made an examination of each rating organization licensed in this state as
provided in Section 459 and he may, as often as he may deem it expedient,
make or cause to be made an examination of each advisory organization
referred to in Section 463 and of each group, association or other
organization referred to in Section 464. The reasonable costs of any such
examination shall be paid by the rating organization, advisory
organization, or group, association or other organization examined upon
presentation to it of a detailed account of such costs. The officers,
manager, agents and employees of such rating organization, advisory
organization or group, association or other organization may be examined at
any time under oath and shall exhibit all books, records, accounts,
documents, or agreements governing its method of operation. In lieu of any
such examination the Director may accept the report of an examination made
by the insurance supervisory official of another state, pursuant to the
laws of such state. The provisions of Sections 132 through 132.7, 402,
and 403 shall be
applicable to the examinations hereunder.

(Source: P.A. 89-97, eff. 7-7-95.)