SB 5148-S - DIGEST

(AS OF SENATE 2ND READING 2/03/04)

Provides that working papers, documents, materials, or information produced by, obtained by, or disclosed to the commissioner or any other person in the course of a financial or market conduct examination are not required to be disclosed by the commissioner unless cited by the commissioner in connection with an agency action. A waiver of existing privilege or claim of confidentiality may not occur as a result of a disclosure to the commissioner under this act.

Requires the commissioner to notify a party that produced documents, materials, or information five days before disclosure in connection to an agency action. The notified party may seek injunctive relief to prevent disclosure of any documents, materials, or information it believes is confidential or privileged in a court of competent jurisdiction.