(a)The Securities Commissioner or the commissioner's designee may conduct an annual examination of a licensee or of any of its authorized delegates upon 45 days' notice in a record to the licensee.
(b)The commissioner may examine a licensee or its authorized delegate, at any time, without notice, if the commissioner has reason to believe that the licensee or authorized delegate is engaging in an unsafe or unsound practice or has violated or is violating this chapter or a rule adopted or an order issued under this chapter.
(c)(1) The licensee, applicant, or person subject to licensing under this chapter shall pay a fee for each examination, not to exceed one hundred fifty dollars ($150) per examiner for each day or for part of a day during which the examiner is conducting the examination
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(a) The Securities Commissioner or the commissioner's designee may conduct an annual examination of a licensee or of any of its authorized delegates upon 45 days' notice in a record to the licensee. (b) The commissioner may examine a licensee or its authorized delegate, at any time, without notice, if the commissioner has reason to believe that the licensee or authorized delegate is engaging in an unsafe or unsound practice or has violated or is violating this chapter or a rule adopted or an order issued under this chapter. (c) (1) The licensee, applicant, or person subject to licensing under this chapter shall pay a fee for each examination, not to exceed one hundred fifty dollars ($150) per examiner for each day or for part of a day during which the examiner is conducting the examination. (2) In addition to the fee prescribed under subdivision (c)(1) of this section, the licensee, applicant, or person subject to licensing under this chapter may be required to pay the actual hotel and traveling expenses of each examiner traveling to and from the office of the commissioner while the examiner is conducting the examination. (d) Information obtained during an examination under this chapter may be disclosed only as provided in § 23-55-607 . (e) The commissioner may: (1) Make any investigations within or outside of this state that he or she deems necessary to determine whether a person has violated or is about to violate this chapter or any rule or order under this chapter, or to aid in the enforcement of this chapter; (2) Require or permit a person to file a sworn, written statement or submit any other form of evidence concerning the matter to be investigated; and (3) Publish information concerning a violation of this chapter or a rule or order issued under this chapter. (f) For the purpose of an investigation or proceeding under this chapter, the commissioner or the commissioner's designee may: (1) Administer oaths and affirmations; (2) Subpoena and compel the attendance of witnesses; (3) Take evidence; and (4) Require the production of books, papers, correspondence, memoranda, agreements, or other documents or records that the commissioner deems relevant or material to the inquiry. (g) (1) In case of contumacy by or the refusal to obey a subpoena issued to a person, the Pulaski County Circuit Court upon application by the commissioner may order the person to appear before the commissioner or the commissioner's designee to testify or produce documentary or other evidence concerning the matter under investigation or in question. (2) Failure to obey the order of the court may be punished by the court as a contempt of court. (h) (1) A person shall not refuse to appear, testify, or produce evidence before the commissioner or the commissioner's designee on the ground that the testimony or evidence may tend to incriminate the person or subject the person to a penalty or forfeiture. (2) (A) After claiming a privilege against self-incrimination, an individual shall not be prosecuted or subjected to a penalty or forfeiture for or on account of a transaction, matter, or thing concerning which the individual is compelled to testify or produce evidence, documentary or otherwise. (B) However, an individual is not exempt from prosecution and punishment for perjury or contempt committed while testifying or producing evidence, documentary or otherwise. (i) (1) To aid an examination or investigation under this chapter, the commissioner or the commissioner's designee may at any time examine: (A) The business of a licensee, an authorized delegate of a licensee, or any other person engaged in the business of providing money services, whether the person acts or claims to act under or without the authority of this chapter; and (B) Wherever located, the books, accounts, records, papers, documents, files, and other information used in the business of a licensee, an authorized delegate of a licensee, or any other person engaged in the business of providing money services, whether the person acts or claims to act under or without the authority of this chapter. (2) The commissioner or the commissioner's designee shall have free access to the offices and places of business, books, accounts, papers, documents, other information, records, files, safes, and vaults to conduct the examination or investigation under this section. (3) The commissioner or the commissioner's designee may request through a record the books, accounts, papers, documents, other information, records, and files to be provided to the commissioner on 7 business-days' notice.