2012 New York Consolidated Laws
ISC - Insurance
Article 15 - (1501 - 1510) HOLDING COMPANIES
1504 - Reporting; examination; publication.

 
    §  1504.  Reporting;  examination;  publication.  (a) Every controlled
  insurer shall file with the superintendent such reports or  material  as
  he  may  direct for the purpose of disclosing information concerning the
  operations of persons  within  the  holding  company  system  which  may
  materially  affect  the operations, management or financial condition of
  the insurer.
    (b) Every holding company and every controlled person within a holding
  company  system  shall  be  subject  to  examination  by  order  of  the
  superintendent  if  he  has cause to believe that the operations of such
  persons may materially affect the operations,  management  or  financial
  condition  of  any  controlled  insurer within the system and that he is
  unable to obtain relevant information from such controlled insurer.  The
  grounds  relied upon by the superintendent for such examination shall be
  stated in his order. Such  examination  shall  be  confined  to  matters
  specified  in  the order. The cost of such examination shall be assessed
  against the person examined and no portion thereof shall  thereafter  be
  reimbursed to it directly or indirectly by the controlled insurer.
    (c)  The  superintendent  shall  keep the contents of each report made
  pursuant to this article and  any  information  obtained  in  connection
  therewith  confidential  and  shall not make the same public without the
  prior written consent of the controlled insurer  to  which  it  pertains
  unless  the  superintendent  after notice and an opportunity to be heard
  shall determine that the interests of policyholders, shareholders or the
  public will be served by the  publication  thereof.  In  any  action  or
  proceeding  by  the  superintendent  against  the person examined or any
  other person within the same holding company system  a  report  of  such
  examination  published  by  him  shall  be admissible as evidence of the
  facts stated therein.