§ 38 — Power of subpoena

New York § 38

• Jurisdiction: New York
• Law BNK: Banking
• Art. 2: Department of Financial Services; Superintendent of Financial Services; Supervisory and Regulatory Powers

Text

§ 38. Power of subpoena. 1. The superintendent shall have power at all\ntimes, either personally or by his deputies, including special deputy\nsuperintendents, or examiners, to subpoena witnesses, to compel their\nattendance, to administer an oath, to examine any person under oath and\nto require the production of any relevant books or papers. Such\nexamination may be conducted on any subject relating to the duties\nimposed upon, or the powers vested in, the superintendent under the\nprovisions of this chapter. Any corporation, association, partnership or\nindividual which fails to obey the command of a subpoena without\nreasonable excuse or refuses, without reasonable cause, to be sworn or\nto be examined or to answer a question or to produce a book or paper\nwhen ordered so to do by the officer duly conducting such inquiry, or\nfails to perform any act required hereunder to be performed, shall be\nguilty of a misdemeanor and shall also be subject to the compulsions\nprovided by the civil practice law and rules. Any officer participating\nin such inquiry and any person examined as a witness upon such inquiry\nwho shall disclose to any person other than the superintendent the name\nof any witness examined or any other information obtained upon such\ninquiry, except as directed by the superintendent, shall be guilty of a\nmisdemeanor.\n 2. In any such investigation before the superintendent or before his\ndeputy or any other officer duly designated by him to conduct such\ninvestigation, the superintendent or such deputy or officer may confer\nimmunity in accordance with the provisions of section 50.20 of the\ncriminal procedure law.\n