In addition to any powers hereinbefore expressly enumerated in this law, the Insurance Commissioner shall have full power and authority to enforce by regulations, orders or otherwise all and singular, the provisions of this law, and the full intent thereof. In particular the Commissioner shall have the authority and power:
1. To examine all records of insurers, pharmacy benefits managers and advisory organizations and to require any insurer, agent, broker and advisory organization to furnish under oath such information as it may deem necessary for the administration of this law. The expense of such examination shall be paid by the insurer or advisory organization examined. In lieu of such examination, the Commissioner may, in the discretion of the Commissioner, accept a report of examination made by any other insurance supervisory authority;
2. To make and enforce such reasonable orders, rules and regulations as may be necessary in making this law effective, but such orders, rules and regulations shall not be contrary to or inconsistent with the provisions of this law; and
3. To issue an order, after a full hearing to all parties in interest requiring any insurer, group, association or organization of insurers and the members and subscribers thereof to cease and desist from any unfair or unreasonable practice.
Added by Laws 1957, p. 247, § 907, operative July 1, 1957. Amended by Laws 1987, c. 210, § 22, eff. July 1, 1987; Laws 2006, c. 264, § 19, eff. July 1, 2006; Laws 2021, c. 472, § 8, emerg. eff. May 11, 2021.