Section 325. Records of domestic insurers

(a) Every domestic insurer and
  every licensed United States branch of an alien insurer entered  through
  this  state  shall, except as hereinafter provided, keep and maintain at
  its principal office in this state its charter and by-laws (in the  case
  of  a United States branch a copy thereof) and its books of account, and
  if a domestic stock  corporation  a  record  containing  the  names  and
  addresses  of  its  shareholders, the number and class of shares held by
  each and the dates when they respectively became the  owners  of  record
  thereof,  and  if  a domestic corporation the minutes of any meetings of
  its shareholders,  policyholders,  board  of  directors  and  committees
  thereof.  If any such records are kept in a language other than English,
  they shall be accompanied by accurate translations thereof.
    (b) A domestic insurer and a licensed United States branch of an alien
  insurer entered through this state may keep and maintain  its  books  of
  account  without this state if, in accordance with a plan adopted by its
  board of directors and approved by the superintendent, it  maintains  in
  this state suitable records in lieu thereof; provided, however, that the
  superintendent  may  after  notice  and  hearing  direct such insurer to
  return all or any of its books of account to this state if  such  return
  is  reasonably  necessary to protect the interests of the people of this
  state or to permit their inspection in  this  state  by  a  director,  a
  shareholder,  or,  in  the case of a mutual insurer, a policyholder, who
  has shown to the satisfaction of the superintendent that he has made  an
  application  to  such insurer for inspection of such books in good faith
  and for a necessary and legitimate purpose, and that  such  insurer  has
  either declined to permit such inspection without this state or to agree
  to  pay  any  additional  expenses  reasonably  to  be  incurred  by the
  applicant or his agent or attorney in connection with the inspection  of
  such  books  as  a result of their maintenance without this state. If in
  the judgment of the superintendent delay in the return  of  any  or  all
  books  of  account  of  such  insurer  may  be  hazardous,  or may cause
  irreparable injury, to the people of this state or to the  policyholders
  of  such  insurer  he  may  direct the return thereof without notice and
  hearing.
    (c) Notwithstanding the provisions of subsections (a) and (b) of  this
  section,  any  licensed United States branch of an alien insurer entered
  through this state which  keeps  and  maintains  its  books  of  account
  without  this  state  on  April first, nineteen hundred eighty-seven may
  continue to do so, unless the superintendent  determines,  after  notice
  and  hearing,  that the return of such books to this state is reasonably
  necessary to protect the interests of the people of this state.