§ 12-424
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§12–424.
(a)The Commissioner may conduct an examination of a licensee or an authorized delegate with not less than 7 business days’ prior notice.
(b)With good cause, the Commissioner may conduct an examination of a licensee or an authorized delegate with no prior notice.
(c)The licensee shall pay all reasonably incurred costs of an examination conducted under this section, including a per–day fee set by the Commissioner for each of the Commissioner’s employees engaged in the examination.
(d)Any examination may be conducted in conjunction with an examination performed by a representative of a responsible supervisory agency of another state.
(1)The Commissioner, in lieu of an examination, may accept the examination report of a responsible supervisory agency of another state, or a report prepared by an independent accounting firm.
(2)A report accepted under paragraph
(1)of this subsection is considered for all purposes as an official report of the Commissioner.
(f)The Commissioner may:
(1)Examine all books, accounts, and records the Commissioner determines are necessary to conduct a complete examination; and
(2)Examine under oath any officer, director, or employee of the licensee, or any other individual who may provide information on behalf of the licensee.