Sec. 10.13.600. Examination of licensees and subsidiaries.

227 words·~1 min read·/ak/title-10/chapter-13/10-13-600

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)The department may at any time examine a licensee or a subsidiary of a licensee. Licensure under this chapter constitutes implied consent to examination by the department.

(b)[Repealed, § 4 ch 26 SLA 2018.]

(c)At the department's request the following persons shall provide to the department the books, accounts, and records of a licensee or a licensee's subsidiary and shall otherwise facilitate the department's examination of the licensee to the fullest extent possible:

(1)a director, officer, or employee of a licensee being examined by the department;

(2)a director, officer, or employee of a subsidiary of a licensee being examined by the department;

(3)a person having custody of the books, accounts, or records of a licensee being examined by the department;

(4)a person having custody of the books, accounts, or records of a subsidiary of a licensee being examined by the department.

(d)The department may retain a certified public accountant, attorney, appraiser, or other person to assist the department in the examination of a licensee or a subsidiary of a licensee if the department determines that the assistance is necessary. Within 10 days after receipt of a statement from the department, the licensee being examined shall pay the fees of a person retained by the department under this subsection.

Article 6. Prohibited Activities.