New York Consolidated Laws, Insurance Law - ISC § 4711. Examinations

(a) The superintendent may examine the affairs of a municipal cooperative health benefit plan as often as deemed necessary, but not less than once in every three years, except that the superintendent may extend the three-year interval to no more than five years upon determining that the three-year requirement is not necessary to safeguard the interests of the public or covered persons.

(b) In connection with such examinations, the superintendent may exercise the powers set forth in sections three hundred six, three hundred eight, three hundred ten, three hundred eleven, and three hundred twelve of this chapter and subsection (f) of section two hundred six and sections three hundred five and three hundred six of the financial services law, and may also require special reports from a municipal cooperative health benefit plan as specified in section three hundred eight of this chapter.

(c) The governing board of every municipal cooperative health benefit plan shall be responsible for the maintenance of accurate records and books of account in regard to the plan.