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(1) The commissioner may retain a third-party consultant, including an attorney, actuary, accountant, or other expert not otherwise a part of the commissioner's staff:
(a) at the insurer's or insurance group's expense; and
(b) as is reasonably necessary to assist the commissioner in reviewing the insurer's or insurance group's:
(i) corporate governance annual disclosure and related information; or
(ii) compliance with this chapter.
(2) A person the commissioner retains under Subsection (1):
(a) is under the direction and control of the commissioner; and
(b) shall act in a purely advisory capacity.
(3) As part of the retention process, a third-party consultant shall verify to the commissioner, with notice to the insurer or insurance group, that the third-party consultant:
(a) is free of a conflict of interest; and
(b) has internal procedures in place to:
(i) monitor compliance with Subsection (3)(a); and
(ii) comply with the confidentiality standards and requirements of this chapter.