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92_HB3012eng HB3012 Engrossed LRB9201508JScs 1 AN ACT concerning insurance rating organizations. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The Illinois Insurance Code is amended by 5 changing Section 465 as follows: 6 (215 ILCS 5/465) (from Ch. 73, par. 1065.12) 7 Sec. 465. Examinations. The Director mayshall, at least8once in five years,make, or cause to be made, an examination 9 of each rating organization licensed in this State as 10 provided in Section 459 and he may, as often as he may deem 11 it expedient, make or cause to be made an examination of each 12 advisory organization referred to in Section 463 and of each 13 group, association or other organization referred to in 14 Section 464. The reasonable costs of any such examination 15 shall be paid by the rating organization, advisory 16 organization, or group, association or other organization 17 examined upon presentation to it of a detailed account of 18 such costs. The officers, manager, agents and employees of 19 such rating organization, advisory organization or group, 20 association or other organization may be examined at any time 21 under oath and shall exhibit all books, records, accounts, 22 documents, or agreements governing its method of operation. 23 In lieu of any such examination the Director may accept the 24 report of an examination made by the insurance supervisory 25 official of another state, pursuant to the laws of such 26 state. The provisions of Sections 132 through 132.7, 402, and 27 403 shall be applicable to the examinations hereunder. 28 (Source: P.A. 89-97, eff. 7-7-95.) 29 Section 99. Effective date. This Act takes effect upon 30 becoming law.