Part 1 — Licensing of Insurers and Reciprocal Insurance Exchanges Subpart 1 Licensing of Insurers Insurer's Duty to be Licensed
48 Audit of records
keeping records in a manner that shows correctly the experience of
the insurer in Alberta as required by section 46 or 47, the Minister
may hire an accountant
(a) to audit the books and records of the insurer, and
(b) to give instructions that will enable the officers of the
insurer to comply with those sections.
(2) The reasonable remuneration and expenses of the accountant
that are approved by the Minister for an audit of an insurer under
subsection (1) must be paid by the insurer.
(3) If the amount approved under subsection (2) is not paid by the
insurer, the Minister may pay the amount and then recover it from
the insurer in an action for debt.
1999 cI-5.1 s48