§ 19-6-2. Examination powers.
Whenever the director, or the director's designee, considers it advisable, he or she
may make, or cause to be made, an examination of each Rhode Island bank-holding company.
The director, or the director's designee(s), may also examine any deposit-taking subsidiary
of the bank-holding company that fails to meet its minimum capital requirements under
applicable federal law, or has received from its principal bank regulator, as its
last composite rating based on capital, asset quality, management, earnings, and liquidity
(CAMEL) or similar regulatory rating, a three, four, five, or other unsatisfactory
rating.
Free access — add to your briefcase to read the full text and ask questions with AI
§ 19-6-2. Examination powers.
Whenever the director, or the director's designee, considers it advisable, he or she
may make, or cause to be made, an examination of each Rhode Island bank-holding company.
The director, or the director's designee(s), may also examine any deposit-taking subsidiary
of the bank-holding company that fails to meet its minimum capital requirements under
applicable federal law, or has received from its principal bank regulator, as its
last composite rating based on capital, asset quality, management, earnings, and liquidity
(CAMEL) or similar regulatory rating, a three, four, five, or other unsatisfactory
rating. The director, or the director's designee, shall have the same examination
power and authority as he or she has for the examination of regulated institutions.
The total cost of these examinations shall be paid in the same manner as other regulated
institutions pursuant to this title. In lieu of this examination, the director, or
the director's designee, shall accept the report of an examination made within the
last fifteen (15) months by any federal bank regulatory agency or the equivalent supervisory
official of another state, pursuant to the laws of that state.