A. The superintendent may appoint one or more competent individuals, sufficiently knowledgeable in applicable accounting and operations, as examiners to represent the superintendent in an examination and shall fix the reasonable compensation of the examiners.
B. The superintendent may also employ and fix reasonable compensation of independently contracting accountants knowledgeable of insurance accounting principles and practices, actuaries, attorneys, appraisers and other specialists not otherwise part of the insurance department staff, as the superintendent deems necessary for the examination, the cost of which shall be borne by the company which is the subject of the examination. All specialists shall be under the direction and control of the superintendent.
History: Laws 1984, ch. 127, § 50; 1993, ch. 320, § 4; 2011, ch. 127, § 2.
ANNOTATIONSThe 2011 amendment, effective July 1, 2011, eliminated the reference to repealed Sections 59A-2-5 and 59A-2-6 NMSA 1978.
The 1993 amendment, effective June 18, 1993, made a stylistic change in Subsection A; in Subsection B, in the first sentence, inserted "attorneys", added the language beginning "the cost of which", and made a stylistic change; and rewrote Subsection C.