(1) No examiner may be appointed by the commissioner if such examiner, either directly or indirectly, has a conflict of interest or is affiliated with the management of or owns a pecuniary interest in any person subject to examination under this part 2; except that this section shall not be construed to automatically preclude an examiner from being:
A policyholder or claimant under an insurance policy;
A grantor of a mortgage or similar instrument on the examiner's residence to a regulated entity if done under customary terms and in the ordinary course of business;
An investment owner in shares of regulated diversified investment companies; or
A settlor or beneficiary of a "blind trust" into which any otherwise impermissibleholdings have been placed.
(2) Notwithstanding any provision of this section to the contrary, the commissioner may retain from time to time, on an individual basis, qualified actuaries, certified public accountants, or other similar individuals who are independently practicing their professions even though such persons may from time to time be similarly employed or retained by persons subject to examination under this part 2.
Source: L. 2003: Entire article RC&RE, p. 612, § 1, effective July 1.
Editor's note: This section is similar to former § 10-1-206 as it existed prior to 2002.