Final answer:
The subject of this question is Law as it pertains to the examination of books and records of an insurer by the director, who must do so every 5 years to ensure compliance and protect the interests of policyholders.
Step-by-step explanation:
The subject of this question is Law as it pertains to the examination of books and records of an insurer by the director. The statement implies that the director has the authority to access and review the financial records and documents of the insurance company to ensure compliance.
In this context, the director must exercise this power of examination at least once every 5 years. This requirement helps to ensure that the insurer's financial operations are being conducted properly and to protect the interests of policyholders.
By periodically examining the books and records of insurers, the director can identify any irregularities, assess solvency, and take appropriate actions to maintain a stable insurance market.