51A-2-18. Examination of banks by director--Substitution for examination requirements.
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/sd/title-51/chapter-51-2/51a-2-18A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The director shall examine, at least once in every two calendar years, and at such other times that he may deem necessary, all of the affairs of each bank and its subsidiaries. In order to determine how frequently to examine a bank, he may establish a system of classifying banks, based on their current examination, and examine different classes with varying frequency. The director may substitute an examination conducted by the Federal Deposit Insurance Corporation or the federal reserve system for an examination required by this section.