The commissioner of insurance, or any person or persons whom he may appoint, may examine any foreign society transacting or applying for admission to transact business in this state. They shall have free access to all the books, papers, and documents that relate to the business of the society. He may, in his discretion, accept in lieu of such examination the latest examination of the insurance department of the state, territory, district, province, or country where such society is organized. The expenses of making any such examination shall be paid by the society upon statement furnished by the commissioner of insurance.
If any such society or its officers refuse to submit to such examination or to comply with the provisions of the section relative thereto, the authority of such society to write new business in this state shall be suspended or license refused until satisfactory evidence is furnished the commissioner relating to the condition and affairs of the society, and during such suspension the society shall not write new business in this state.