                                 CODE OF VIRGINIA

EXAMINATIONS (§ 38.2-4234)

A. In addition to the powers the Commission has under Article 4 of Chapter 13
(&#xA7; 38.2-1317 et seq.) of this title, the Commission shall also have the
power to order any nonstock corporation registered under &#xA7; 38.2-4231 to
produce any records, books, or other information papers in the possession of the
nonstock corporation or its affiliates necessary to determine the financial
condition or legality of conduct of the nonstock corporation. If the nonstock
corporation fails to comply with the order, the Commission shall have the power
to examine its affiliates to obtain the information.

B. The Commission shall exercise its power under subsection A of this section
only if the examination of the nonstock corporation under Article 4 of Chapter
13 (&#xA7; 38.2-1317 et seq.) of this title is inadequate or the interests of
the subscribers of the nonstock corporation may be adversely affected.

C. The Commission may retain at the expense of the registered nonstock
corporation any attorneys, actuaries, accountants and other experts reasonably
necessary to assist in the conduct of the examination under subsection A of this
section. Any persons so retained shall be under the direction and control of the
Commission and shall act in a purely advisory capacity.

D. Each nonstock corporation producing books and papers for examination records
pursuant to subsection A of this section shall be liable for and shall pay the
expense of the examination in accordance with the provisions of Article 4 of
Chapter 13 (&#xA7; 38.2-1317 et seq.) of this title.

HISTORY: 1989, c. 606; 1992, c. 588.