PARRIS N. GLENDENING, Governor

Ch. 36

REVISOR'S NOTE: This section formerly was Art. 48A, § 691(d).

The only changes are in style.

Defined terms: "Person" § 1-101
"Plan" § 8-301

8-319. INVESTIGATIONS BY COMMISSIONER.

(A)     ON COMPLAINT.

(1)      A PERSON AGGRIEVED BY THE CONDUCT OF A PERSON
REGISTERED OR REQUIRED TO BE REGISTERED UNDER THIS SUBTITLE MAY FILE A
WRITTEN COMPLAINT WITH THE COMMISSIONER.

(2)      ON RECEIPT OF A COMPLAINT, THE COMMISSIONER SHALL
INVESTIGATE THE COMPLAINT.

(B)      ON INITIATIVE OF COMMISSIONER.

THE COMMISSIONER MAY INVESTIGATE ANY PERSON IF THE COMMISSIONER
HAS REASONABLE CAUSE TO BELIEVE THAT THE PERSON HAS VIOLATED ANY
PROVISION OF THIS SUBTITLE OR A REGULATION ADOPTED UNDER IT.

(C)     INVESTIGATIVE POWERS.

WITHOUT LIMITATION OF THE POWERS GRANTED TO THE COMMISSIONER
UNDER TITLE 2 OF THIS ARTICLE, IN CONNECTION WITH AN INVESTIGATION UNDER
THIS SECTION, THE COMMISSIONER MAY:

(1)      EXAMINE THE BOOKS AND RECORDS OF A PERSON REGISTERED
UNDER THIS SUBTITLE OR ANY OTHER PERSON THAT THE COMMISSIONER
BELIEVES HAS VIOLATED THIS SUBTITLE OR A REGULATION ADOPTED UNDER IT;

(2)      SUBPOENA DOCUMENTS AND OTHER EVIDENCE; AND

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

(D)     LIMITATION ON SUBMISSION OF BOOKS AND RECORDS.

FOR THE PURPOSE OF CONDUCTING AN INVESTIGATION UNDER THIS SECTION,
THE COMMISSIONER MAY NOT REQUIRE AN ADMINISTRATOR TO SUBMIT TO THE
COMMISSIONER, MORE THAN ONCE IN A 12-MONTH PERIOD, ANY BOOKS OR
RECORDS OF A PLAN ADMINISTERED BY THE ADMINISTRATOR UNLESS THE
COMMISSIONER HAS REASONABLE CAUSE TO BELIEVE THAT A VIOLATION OF THIS
SUBTITLE OR A REGULATION ADOPTED OR ORDER ISSUED UNDER IT EXISTS...

(E)     USE OF INFORMATION.

SUBJECT TO SUBSECTION (F) OF THIS SECTION, THE COMMISSIONER MAY MAKE
AVAILABLE INFORMATION ABOUT A MATTER THAT MAY BE SUBJECT TO AN
INVESTIGATION TO:

- 1111 -