(a)  The Commissioner of Banks may make such examination of the books, records, business locations, and operations of any licensee and at such times as may seem necessary or desirable to the Commissioner or his designee. Such examinations may be with or without advance notice to the licensee.

(b)  In addition to examinations authorized by G.S. 53-278(b) or G.S. 53-282(c), the Commissioner may request from licensees hereunder such reports and at such times as to him shall be necessary or advisable for the purpose of determining the general results of operations under G.S. 53, Article 22.  The Commissioner or his designee may also examine or investigate a licensee when the Commissioner has reasonable grounds to believe that a registrant has violated any law or regulation of this State, the Federal government or any agency thereof.

(c)  If a licensee fails to pay the costs of examination or investigation to the Commissioner within a reasonable time as required by G.S. 53-282(c), then the Commissioner may proceed to remedies contemplated by G.S. 53-284 et seq.


History Note:        Authority G.S. 53-278; 53-282; 53-284; 53-288; 53C-2-1; 53C-2-2;

Eff. July 1, 2000.