(a)(1) The Commissioner:
(i)Shall examine the business of each credit union share guaranty corporation at least once every 24 months; and
(ii)May examine the business of each credit union share guaranty corporation at any time that the Commissioner reasonably considers necessary.
(2)The Commissioner may enter into agreements with third parties and delegate the authority to conduct an examination required or permitted under this subsection.
(3)In lieu of performing an examination of a credit union share guaranty corporation, the Commissioner may accept an examination report from the responsible supervisory official of the credit union share guaranty corporation’s state of domicile.
(b)(1) A person aggrieved by th
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(a) (1) The Commissioner:
(i) Shall examine the business of each credit union share guaranty corporation at least once every 24 months; and
(ii) May examine the business of each credit union share guaranty corporation at any time that the Commissioner reasonably considers necessary.
(2) The Commissioner may enter into agreements with third parties and delegate the authority to conduct an examination required or permitted under this subsection.
(3) In lieu of performing an examination of a credit union share guaranty corporation, the Commissioner may accept an examination report from the responsible supervisory official of the credit union share guaranty corporation’s state of domicile.
(b) (1) A person aggrieved by the conduct of a credit union share guaranty corporation under this subtitle in connection with the credit union share guaranty business may file a written complaint with the Commissioner who may investigate the complaint.
(2) The Commissioner may make any other investigation of any person if the Commissioner has reasonable cause to believe that the person has violated any provision of this subtitle, any regulation adopted under this subtitle, or any other law regulating credit union share guaranty corporations in the State.
(c) In connection with an examination or investigation made under this section, the Commissioner may:
(1) Examine the books and records of any credit union share guaranty corporation or of any other person who the Commissioner believes has violated any provision of this subtitle, any regulation adopted under this subtitle, or any other law regulating credit union share guaranty corporations in the State;
(2) Subpoena documents or other evidence; or
(3) Summon and examine under oath any individual whose testimony the Commissioner requires.
(d) If any person fails to comply with a subpoena or summons issued by the Commissioner under this section, the Commissioner may file a petition for enforcement in the appropriate circuit court.