(1) For
the purpose of discovering violations of this chapter or rules adopted under
this chapter, discovering unsafe and unsound practices, or securing
information lawfully required under this chapter, the director may at any
time, either personally or by designee, investigate or examine the business
and wherever located, the books, accounts, records, papers, documents, files
and other information used in the business of every applicant, licensee or its
authorized representatives, and of every person who is engaged in the business
of providing money transmission services, whether the person acts or claims to
act under or without the authority of this chapter. For these purposes, the
director or designated representative shall have free access to the offices
and places of business, books, accounts, papers, documents, other information,
records, files, safes and vaults of all such persons. The director or the
director's designee may require the attendance of and examine under oath all
persons whose testimony may be required about the business or the subject
matter of any investigation, examination or hearing and may require such
person to produce books, accounts, papers, documents, records, files and any
other information the director or designated person declares is relevant to
the inquiry. The director may require the production of original books,
accounts, papers, documents, records, files and other information; may require
that such original books, accounts, papers, documents, records, files and
other information be copied; or may make copies himself or herself or by
designee of such original books, accounts, papers, documents, records, files
or other information. The director or designated person may issue a subpoena
or subpoena duces tecum requiring attendance or compelling production of the
books, accounts, papers, documents, records, files or other information.
Should the director conclude that an on-site examination of a licensee is
necessary, the licensee, subject to the provisions of subsection (2) of this
section, shall pay all the actual costs of such examination. If the director
determines, based on the licensee's financial statements and past history of
operations in the state, that an on-site examination is unnecessary, the
on-site examination may be conducted in conjunction with examinations to be
performed by representatives of agencies of another state or states. The
director, in lieu of an on-site examination, may accept the examination
report of an agency of another state, or a report prepared by an independent
accounting firm, and reports so accepted are considered for all purposes as an
official report of the director.
(2) In the case of refusal to obey a subpoena issued to any person, any
court of competent jurisdiction, upon application by the director, may issue
to that person an order requiring him to appear before the director or his
designee to produce documentary evidence if so ordered or to give evidence
relating to the matter under investigation or in question. Any failure to obey
such order of the court may be punished by the court as a contempt of court.
When the director examines a licensee or an authorized representative within
this state, the licensee or authorized representative shall pay all the actual
costs of such examination, up to a maximum of one thousand dollars ($1,000). |
