(a) The Bank Commissioner shall examine a state trust company at least one (1) time every twenty-four (24) months or more often as the commissioner determines is necessary to safeguard the interests of the public and the safety and soundness of the institution.
(b) A state trust company shall pay to the State Bank Department within ten (10) days after notice from the commissioner in January and July of each year an assessment fee to defray the costs of examination and the costs of operations of the department which will be charged according to an assessment fee schedule approved by the commissioner.
(c) The commissioner may:(1) Accept examinations of a state trust company by a bank supervisory agency in lieu of an examination under this section; or(2) Conduct examinations of a state trust company jointly or concurrently with a bank supervisory agency.
(1) Accept examinations of a state trust company by a bank supervisory agency in lieu of an examination under this section; or
(2) Conduct examinations of a state trust company jointly or concurrently with a bank supervisory agency.
(d) (1) A state trust company shall periodically file with the commissioner a copy of its statement of condition and income.(2) The commissioner may call for a report under subdivision (d)(1) of this section whenever deemed necessary, to obtain a full and complete knowledge of the condition of the state trust company.
(1) A state trust company shall periodically file with the commissioner a copy of its statement of condition and income.
(2) The commissioner may call for a report under subdivision (d)(1) of this section whenever deemed necessary, to obtain a full and complete knowledge of the condition of the state trust company.