399-G:6 Supervision; Examination. –
I. The commissioner may conduct an examination or investigation of a licensee or authorized delegate, or may otherwise take independent action authorized by this chapter as reasonably necessary or appropriate to administer and enforce the provisions of this chapter and other applicable rules, regulations, and laws, including the Bank Secrecy Act and the USA PATRIOT Act. The commissioner may:
(a) Conduct an examination either on-site or off-site as the commissioner may reasonably require;
(b) Conduct an examination in conjunction with an examination conducted by representatives of other state agencies or agencies of another state or of the federal government;
(c) Accept an examination report of another state agency or an agency of another state or of the federal government, or a report prepared by an independent accounting firm, which on being accepted is considered for all purposes as an official report of the commissioner; and
(d) Summon and examine under oath a key individual or employee of a licensee or authorized delegate and require the person to produce records regarding any matter related to the condition and business of the licensee or authorized delegate.
II. A licensee or authorized delegate shall provide, and the commissioner shall have full and complete access to, all records the commissioner may reasonably require to conduct a complete examination. The records shall be provided at the location and in the format specified by the commissioner, provided that the commissioner may utilize multistate record production standards and examination procedures when such standards will reasonably achieve the requirements of this section.
III. Unless otherwise directed by the commissioner, a licensee shall pay all costs reasonably incurred in connection with an examination of the licensee or the licensee's authorized delegates.
IV. Licensees and authorized delegates being examined pursuant to this chapter shall deliver to the commissioner any files or documents requested within 28 days of receipt of the request. Failure to provide files or documents within 28 days shall subject a licensee or authorized delegate to a fine of $50 per day for each day the files or documents are not produced. Failure to provide files or documents within 60 days after receipt of the request shall be sufficient cause for license revocation, suspension, or denial, or other penalties under this chapter.
[Paragraph V effective October 1, 2026.]
V. The commissioner may require books and records to be translated into the English language and may require an interpreter to facilitate an examination at the expense of the licensee or authorized delegate.
[Paragraph VI effective October 1, 2026.]
VI. Upon receipt of a written report of examination, the licensee shall have 30 days, or such additional reasonable period as the commissioner for good cause may allow, within which to review the report, recommend any changes, and set forth in writing the remedial course of action the licensee will pursue to correct any reported deficiencies outlined in the report.