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This entry was published on 2014-09-22
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SECTION 221-G
Superintendent authorized to examine; expenses
Banking (BNK) CHAPTER 2, ARTICLE 5-B
§ 221-g. Superintendent authorized to examine; expenses. For the
purpose of discovering violations of this article or securing
information lawfully required by him hereunder, the superintendent may
at any time, and as often as may be determined, either personally or by
a person duly designated by him, investigate the activities of
representatives of licensees and examine the books, accounts, records,
and files used in relation to those activities. For that purpose the
superintendent and a duly designated representative (i) shall have free
access to the offices, books, accounts, papers, records, files, safes
and vaults of licensees and their representatives, and (ii) shall have
authority to require the attendance of and to examine under oath all
persons whose testimony may be required relative to the activities of a
representative. The expenses incurred in making any examination pursuant
to this section shall be assessed against and paid by the licensee so
examined, except that traveling and subsistence expenses so incurred
shall be charged against and paid by licensees in such proportions as
the superintendent shall deem just and reasonable, and such
proportionate charges shall be added to the assessment of the other
expenses incurred upon each examination. Upon written notice by the
superintendent of the total amount of such assessment, the licensee
shall become liable for and shall pay such assessment to the
superintendent.