E. All examiners assigned to an examination must participate in the planning of the examination and the planning phase conforms to the Examiners' Handbook and generally accepted auditing standards.

Sec. 2. 32 MRSA §12228, sub-§10-A is enacted to read:

10-A.__Experience credit.__Credits towards the experience requirement of subsection 10 are as follows.

A.__To the extent the applicant's experience is as a revenue agent or similar position engaged in the examination of personal and corporate income tax returns for the Bureau of Revenue Services, the applicant receives credit at the rate of 50% toward the experience required by subsection 10.

B.__To the extent the applicant's experience is as an examiner engaged in financial examinations for the Bureau of Insurance, the applicant receives credit under subsection 10 if that experience meets the following standards:

(1)__Examinations are performed in conformity with the Examiners' Handbook published by the National Association of Insurance Commissioners;

(2)__Working papers prepared by the examiners are in conformity with generally accepted auditing standards and are subject to a review by a supervisor who must be a certified public accountant;

(3)__Written reports of examination are prepared in conformity with the Examiners' Handbook published by the National Association of Insurance Commissioners.__ All examiners working on the examinations must participate in the preparation of the report;

(4)__Reports of examination are prepared in accordance with statutory accounting principles.__All examiners working on the examinations must participate in the preparation of the financial statements and corresponding note disclosures; and

(5)__All examiners assigned to an examination must participate in the planning of the examination, and the