610

LAWS OF MARYLAND

Ch. 33

without substantive change from Art. 66, § 51.

12-314. INVESTIGATORY POWERS AND DUTIES OF BANK

COMMISSIONER.

(A)   SCOPE OF SECTION.

THIS SECTION DOES NOT APPLY TO A SAVINGS AND LOAN
ASSOCIATION.

(B)        EXAMINATIONS OF LICENSEES.

THE BANK COMMISSIONER SHALL EXAMINE THE BUSINESS OF
EACH LICENSEE:

(1)   AT LEAST ONCE EVERY 2 YEARS; AND

(2)   AT ANY OTHER TIME THAT THE BANK COMMISSIONER
CONSIDERS NECESSARY.

(C)   OTHER INVESTIGATIONS.

THE BANK COMMISSIONER MAY MAKE ANY OTHER INVESTIGATION
OF ANY PERSON IF THE BANK COMMISSIONER HAS REASONABLE CAUSE
TO BELIEVE THAT THE PERSON HAS VIOLATED ANY PROVISION OF THE
MARYLAND SECONDARY MORTGAGE LOAN LAW OR OF ANY RULE OR
REGULATION ADOPTED UNDER IT.

(D)   FEE FOR EXAMINATION OR INVESTIGATION.

A LICENSEE EXAMINED OR INVESTIGATED BY THE BANK
COMMISSIONER UNDER THIS SECTION SHALL PAY TO THE BANK
COMMISSIONER A PER DIEM FEE OF NOT MORE THAN $50 FOR EACH OF
THE BANK COMMISSIONER'S EMPLOYEES ENGAGED IN THE EXAMINATION
OR INVESTIGATION.

(E)   INVESTIGATORY POWERS.

IN CONNECTION WITH AN EXAMINATION OR INVESTIGATION MADE
UNDER THIS SECTION, THE BANK COMMISSIONER MAY:

(1)   EXAMINE THE BOOKS AND RECORDS OF ANY
LICENSEE OR OF ANY OTHER PERSON WHO THE BANK COMMISSIONER
BELIEVES HAS VIOLATED ANY PROVISION OF THE MARYLAND
SECONDARY MORTGAGE LOAN LAW OR OF ANY RULE OR REGULATION
ADOPTED UNDER IT;

(2)   SUBPOENA DOCUMENTS OR OTHER EVIDENCE; AND

(3)   SUMMON AND EXAMINE UNDER OATH ANY PERSON
WHOSE TESTIMONY THE BANK COMMISSIONER REQUIRES.

(F)   ENFORCEMENT OF SUBPOENAS AND SUMMONS.

(1) IF ANY PERSON FAILS TO COMPLY WITH A
SUBPOENA OR SUMMONS OF THE BANK COMMISSIONER UNDER THIS
SUBTITLE OR TO TESTIFY CONCERNING ANY MATTER ABOUT WHICH THE