§489D-17 Examinations and investigations. (a) The commissioner may examine or investigate a licensee or authorized delegate of a licensee as reasonably necessary or appropriate to administer and enforce this chapter, rules adopted or orders issued under this chapter, and other applicable law including but not limited to the Bank Secrecy Act, title 31 United States Code section 5311 et seq.; Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT ACT) Act of 2001, P.L. 107-56; Electronic Fund Transfer Act, title 15 United States Code section 1693 et seq.; and [Gramm-Leach-Bliley] Act of 1999, P.L. 106-102.
(b) The commissioner may:
(c) A licensee or authorized delegate of a licensee shall provide, and the commissioner shall have full and complete access to, all records the commissioner may reasonably require to conduct a complete examination or investigation. The records shall be provided at the location and in the format specified by the commissioner; provided that the commissioner may utilize multi-state record production standards and examination procedures when the standards will reasonably achieve the requirements of this section.
(d) Unless otherwise directed by the commissioner, a licensee shall pay all costs reasonably incurred in connection with an examination of the licensee's authorized delegate.
(e) To efficiently and effectively administer and enforce this chapter and to minimize regulatory burden, the commissioner may participate in the multi-state, networked supervisory processes established between states and coordinated through the Conference of State Bank Supervisors, Money Transmitter Regulator Association, and affiliates and successors for all licensees that hold licenses in this State and other states; provided that:
(f) The submission of any information to the commissioner by a person subject to this chapter or shared with the commissioner by another federal or state regulator of a person subject to this chapter, for any purpose in the course of any examination or investigation or otherwise, shall not be construed as waiving, destroying, or otherwise affecting any privilege the person may claim with respect to the information under federal or state law as to any person or entity other than the commissioner; provided that this subsection shall not be construed as implying or establishing that:
(g) The commissioner shall charge an examination fee to each licensee and authorized delegate examined or investigated by the commissioner or the commissioner's staff, based upon the cost per hour per examiner. The hourly fee shall be $60.
(h) In addition to the examination fee, the commissioner shall charge any money transmitter or authorized delegate examined or investigated by the commissioner or the commissioner's staff, additional amounts for travel, per diem, mileage, and other reasonable expenses incurred in connection with the examination. [L 2006, c 153, pt of §1; am L 2008, c 195, §11; am L 2013, c 167, §12; am L 2021, c 108, §7]