§ 596 — Superintendent authorized to examine; expenses

New York § 596

• Jurisdiction: New York
• Law BNK: Banking
• Art. 12-D: Licensed Mortgage Bankers

Text

§ 596. Superintendent authorized to examine; expenses. For the purpose\nof discovering violations of this article or securing information\nlawfully required by him hereunder, the superintendent may at any time,\nand as often as he or she may determine, either personally or by a\nperson duly designated by him, investigate the business and examine the\nbooks, accounts, records, and files used therein of every licensee,\nservicer and registrant. For that purpose the superintendent and his or\nher duly designated representative shall have free access to the offices\nand places of business, books, accounts, papers, records, files, safes\nand vaults of all such licensees, servicers and registrants. The\nsuperintendent and any person duly designated by him or her shall have\nauthority to require the attendance of and to examine under oath all\npersons whose testimony he or she may require relative to such business.\nThe expenses incurred in making any examination pursuant to this section\nshall be assessed against and paid by the licensee, servicer or\nregistrant so examined, except that traveling and subsistence expenses\nso incurred shall be charged against and paid by licensees, servicers or\nregistrants in such proportions as the superintendent shall deem just\nand reasonable, and such proportionate charges shall be added to the\nassessment of the other expenses incurred upon each examination. Upon\nwritten notice by the superintendent of the total amount of such\nassessment, the licensee, servicer or registrant shall become liable for\nand shall pay such assessment to the superintendent.\n In any hearing in which the bank examiner acting under authority of\nthis chapter is available for cross-examination, any official written\nreport, worksheet, other related papers, or duly certified copy thereof,\ncompiled, prepared, drafted, or otherwise made by said bank examiner,\nafter being duly authenticated by said examiner, may be admitted as\ncompetent evidence upon the oath of said examiner that said worksheet,\ninvestigative report, or other related documents were prepared as a\nresult of an examination of the books and records of a licensee,\nservicer or registrant or other person, conducted pursuant to the\nauthority of this chapter.\n