§ 599-o. Rules, regulations and examinations.
1.The superintendent is\nhereby authorized and empowered to make such rules and regulations and\ninterim procedures for licensing and acceptance of applications as may\nin his or her judgment be necessary or appropriate for the effective\nadministration or enforcement of this article. For individuals\npreviously authorized to act as mortgage loan originators under this\nchapter, the superintendent may establish expedited review and licensing\nprocedures.\n 2. For the purpose of discovering violations of this article or\nsecuring information lawfully required by him or her hereunder, the\nsuperintendent may at any time, and as often as he or she may determine,\ninvestigate the business and examine the books, accounts, records, and\nfiles of
Free access — add to your briefcase to read the full text and ask questions with AI
§ 599-o. Rules, regulations and examinations. 1. The superintendent is\nhereby authorized and empowered to make such rules and regulations and\ninterim procedures for licensing and acceptance of applications as may\nin his or her judgment be necessary or appropriate for the effective\nadministration or enforcement of this article. For individuals\npreviously authorized to act as mortgage loan originators under this\nchapter, the superintendent may establish expedited review and licensing\nprocedures.\n 2. For the purpose of discovering violations of this article or\nsecuring information lawfully required by him or her hereunder, the\nsuperintendent may at any time, and as often as he or she may determine,\ninvestigate the business and examine the books, accounts, records, and\nfiles of every licensee under this article and any entity with which\nsuch individual is associated as an employee or independent contractor.\nFor that purpose the superintendent shall have free access to the\noffices and places of business, books, accounts, papers, records, files,\nsafes and vaults of all such entities. The superintendent shall have\nauthority to require the attendance of and to examine under oath all\npersons whose testimony he or she may deem necessary or desirable\nrelative to such business. The expenses incurred in making any\nexamination pursuant to this section shall be assessed against and paid\nby the licensee so examined, except that traveling and subsistence\nexpenses so incurred shall be charged against and paid by licensees in\nsuch proportions as the superintendent shall deem just and reasonable,\nand such proportionate charges shall be added to the assessment of the\nother expenses incurred upon each examination. Upon written notice by\nthe superintendent of the total amount of such assessment, the licensee\nshall become liable for and shall pay such assessment to the\nsuperintendent.\n