TITLE 4: ECONOMIC RESOURCES
DIVISION 7: INSURANCE
§ 7608. Records Requirements; Inspection; Statistics. (a) Each insurer, rating organization or advisory organization shall maintain reasonable records, of the type and kind reasonably adapted to its method of operation, of its experience or the experience of its members and of the data, statistics, or information collected or used by it in connection with the rates, rating plans, rating systems, underwriting rules, policy or bond forms, surveys, or inspections made or used by it. (b) The maintenance of such records in the office of a licensed rating organization of which an insurer is a member or subscriber will be sufficient compliance with this section for any insurer maintaining membership or subscribership in such organization, to the extent that the insurer uses the rates, rating plans, rating systems, or underwriting rules of such organization. (c) Such records shall be available to the Commissioner for examination and inspection at any time in order to determine whether the filings made pursuant to 4 CMC § 7605 comply with this chapter. (d) Each insurer shall maintain statistics under statistical plans compatible with the rating plans used by the insurer. An insurer may report its statistics through a recognized agency or advisory organization. Source: PL 18-34 § 4(7608) (Feb. 14, 2014), modified. Commission Comment: The Commission corrected the designation of subsections pursuant to 1 CMC § 3806(a). The Commission inserted commas after the words “statistics” and “surveys” in subsection (a) and “systems” in subsection (b) pursuant to 1 CMC § 3806(g).