Sec. 06.55.401. Authority to conduct examinations.
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Sec. 06.55.401. Authority to conduct examinations.
(a)The department may conduct an annual examination of a money services licensee or of any of its authorized delegates upon 45 days' notice in a record to the money services licensee.
(b)The department may examine a money services licensee or its authorized delegate, at any time, without notice, if the department has reason to believe that the money services licensee or authorized delegate is engaging in an unsafe or unsound practice or has violated or is violating this chapter or a regulation adopted or an order issued under this chapter.
(c)If the department concludes that an on-site examination is necessary under
(a)of this section, the money services licensee shall pay the reasonable cost of the examination.
(d)Information obtained during an examination under this chapter may be disclosed only as provided in AS 06.55.407 .