(a) The Superintendent [Commissioner] may in his discretion conduct an on-site examination of a licensee upon 45 days written notice to the licensee. The licensee shall pay all reasonably incurred costs of the examination. The on-site examination may be conducted in conjunction with examinations to be performed by representatives of agencies of another state. The Superintendent [Commissioner], in lieu of an on-site examination, may accept the examination report of an agency of another state; or a report prepared by an independent accounting firm; and reports so accepted shall be considered for all purposes as an official report of the Superintendent [Commissioner].
(b) The Superintendent [Commissioner] may (1) request financial data from a licensee in addition to that required under § 26-1010 or (2) conduct an on-site examination of a licensee, authorized delegate or location of a licensee within the District of Columbia without prior notice to the authorized delegate or licensee if the Superintendent [Commissioner] has a reasonable basis to believe that the licensee or authorized delegate is not in compliance with this chapter. When the Superintendent [Commissioner] examines an authorized delegate’s operations, the authorized delegate shall pay all reasonably incurred costs of the examination. When the Superintendent [Commissioner] examines a licensee’s location within the District of Columbia, the licensee shall pay all reasonably incurred costs of the examination.
(July 18, 2000, D.C. Law 13-140, § 14, 47 DCR 3431.)
Structure District of Columbia Code
Title 26 - Banks and Other Financial Institutions
Chapter 10 - Money Transmissions
§ 26–1004. License qualifications
§ 26–1005. Permissible investments and statutory trust
§ 26–1006. License application
§ 26–1007. Bond or other security device
§ 26–1009. Issuance of license
§ 26–1010. Renewal of license and annual report
§ 26–1011. Special reporting requirements
§ 26–1012. Changes in control of a licensee
§ 26–1014. Maintenance of records
§ 26–1015. Suspension or revocation of licenses
§ 26–1016. Authorized delegate contracts
§ 26–1017. Authorized delegate conduct
§ 26–1018. Revocation or suspension of authorized delegates
§ 26–1020. Hearings and procedures
§ 26–1024. Promulgation of rules