Page:United States Statutes at Large Volume 48 Part 1.djvu/1161

 73d CONGRESS. SESS. II. CH. 672. JUNE 19, 1934 . 1135 it will subsist for the security of the obligations of the reinsured company assumed by the reinsuring company. The Superintendent Noti ce of rei nsura n c e shall give notice of such reinsurance agreement and of the appliea- agreement. tion for the d eposit once a week for thr ee consecutive weeks in a newspaper of general circulation in the District before the delivery of such securities to the reinsuring company. SEC. 19. EXAMINATIONS .-The Superintendent may examine the Examinations. Super- books,. papers, property, and the aff airs of any insurance company inters entrome Super- book s,. e papers, or doing business in the District and of any company engaged in or professing to be engaged in organizing, promoting, or soliciting stock or capital contributions to or aiding in the forma- tion of an insurance company or of any company which holds the capital stock of an insurance company for the purpose of controlling the management thereof as voting trustees or otherwise. The Super- intend ent, h is dep uty, or any exami ner ma y exa mine u nder o ath the officers and agents of such company and all persons deemed to have m ateria l info rmati on reg arding the c ompan y's pr operty or business. Every such company, its officers and agents, shall produce enB Yrecords, et~g i nal at the home office of the company at the time designated by the Inspection of. Superintendent, its books of original entry and all records and papers in its or their possession relating to its business or affairs, and any other person may be required to produce any book, record, or paper in his custody relevant to the examination, for the inspec- tion of the Superintendent, his deputy, or examiners, whenever required ; and the officers and agents of such company shall facili- tate such examination and aid the examiners in making the same so far as it is in their power to do so. Every such examiner shall Examiner's report. make a full and true report of every examination made by him, verified by his oath, which shall comprise only facts appearing upon verification. the books, papers, records, or documents of such company, or ascer- tained from the sworn testimony of its officers or agents or other pers ons exam ined und er o ath conc erni ng i ts a ffai rs, and said rep ort Force as evidence so verified shall be presumptive evidence in any action or proceeding in the name of the District against the company, its officers or agents, of the facts therein stated. The Superintendent shall grant Cheeking of report. a hearing to the company examined, or he shall furnish it a copy of his report, in tentative form, requesting that the statements and items therein contained be checked, and the report be returned to the Superintendent within the time specified by him, before filing any such report and before making public such report or any mat- Publication. ters relating thereto ; and may withhold any such report from public inspection for such time as he may deem proper ; and may, aft er s o filing, if he deems it for the interest of the public to do so, publish any such report or the result of any such examination as contained therein in one or more newspapers in the District without expense to the company. It shall be the duty of the Superintendent to ammmaton ment of ax- examine every domestic insurance company at least once in three years. The exp ense of every such examinat ion, not to i nclude salarie s, Payment of ex penses. shall be paid by the company examined, and such company shall pay to the Sup erintendent, his deputies, and/or his ex aminers the actual expense of such examination upon itemized bills furnished by the superintendent. Recei vers hip pr o- SEC . 20 . RECEIVERSHIP PROCEEDINGS .-The Superintendent may, the ceedings. corporation counsel of the District representing him, apply to the Application for rule to show cause why Supreme Court of the District for a rule directing any company Superintendent should not take over assets. doing business in the District, any company organized under the etc. laws of the District or other Acts of Congress, or any company in course of organization, to show cause why the Superintendent should