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S.B. 774
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VETOES
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(3) Any other person who the Commissioner has cause to believe is
violating this subtitle[,] OR ANY REGULATION ADOPTED UNDER THIS SUBTITLE
whether that person claims to be within or beyond the scope of this subtitle.
(b) For the purposes of this section, the Commissioner:
(1) Shall be given access to the place of business, books, papers, records,
safes, and vaults of the person under investigation; and
(2) May summon and examine under oath any person whose testimony
the Commissioner requires.
(C) (1) IF A PERSON FAILS TO COMPLY WITH A SUBPOENA OR SUMMONS OF
THE COMMISSIONER UNDER THIS SUBTITLE OR TO TESTIFY CONCERNING ANY
MATTER ABOUT WHICH THE PERSON MAY BE INTERROGATED UNDER THIS
SUBTITLE, THE COMMISSIONER MAY FILE A PETITION FOR ENFORCEMENT WITH THE
CIRCUIT COURT FOR ANY COUNTY.
(2) ON PETITION BY THE COMMISSIONER, THE COURT MAY ORDER THE
PERSON TO ATTEND AND TESTIFY OR PRODUCE EVIDENCE.
12-124.
(A) THE COMMISSIONER MAY CONDUCT AN ON-SITE EXAMINATION OF A
LICENSEE OR AUTHORIZED DELEGATE WITH NOT LESS THAN 7 BUSINESS DAYS
PRIOR NOTICE.
(B) WITH GOOD CAUSE, THE COMMISSIONER MAY CONDUCT AN ON-SITE
EXAMINATION OF A LICENSEE OR AUTHORIZED DELEGATE WITH NO PRIOR NOTICE.
(C) THE LICENSEE SHALL PAY ALL REASONABLY INCURRED COSTS OF AN
EXAMINATION.
(D) THE ON-SITE EXAMINATION MAY BE CONDUCTED IN CONJUNCTION WITH
AN EXAMINATION PERFORMED BY A REPRESENTATIVE OF A RESPONSIBLE
SUPERVISORY AGENCY OF ANOTHER STATE.
(E) (1) THE COMMISSIONER, IN LIEU OF AN ON-SITE EXAMINATION, MAY
ACCEPT THE EXAMINATION REPORT OF A RESPONSIBLE SUPERVISORY AGENCY OF
ANOTHER STATE, OR A REPORT PREPARED BY AN INDEPENDENT ACCOUNTING FIRM.
(2) A REPORT ACCEPTED UNDER PARAGRAPH (1) OF THIS SUBSECTION IS
CONSIDERED FOR ALL PURPOSES AS AN OFFICIAL REPORT OF THE COMMISSIONER
(F) THE COMMISSIONER MAY:
(1) EXAMINE ALL BOOKS, ACCOUNTS, AND RECORDS THE
COMMISSIONER DETERMINES ARE NECESSARY TO CONDUCT A COMPLETE
EXAMINATION; AND
(2) EXAMINE UNDER OATH ANY OFFICER, DIRECTOR, OR EMPLOYEE OF
THE LICENSEE. OR ANY OTHER INDIVIDUAL WHO MAY PROVIDE INFORMATION ON
BEHALF OF THE LICENSEE.
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- 4868 -
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