(a) The Commissioner may conduct an on-site examination of a licensee with or without prior notice.
(b) The licensee shall pay all reasonably incurred costs directly related to an examination conducted under this section, including the travel expenses, lodging expenses, and a per diem for examiners.
(c) An on-site examination may be conducted in conjunction with an examination performed by a representative of a responsible supervisory agency of another state.
(d) (1) The Commissioner, in lieu of an on-site examination, may accept the examination report of a responsible supervisory agency of another state.
(2) A report accepted under paragraph (1) of this subsection is considered for all purposes as an official report of the Commissioner.
(e) The Commissioner may:
(1) Examine all books, accounts, and records that the Commissioner determines are necessary to conduct a complete examination, including the books, accounts, and records in the possession of a subsidiary, affiliate, or other person that relate to the operation of and services provided by the licensee’s debt management services business; and
(2) Examine under oath any owner, officer, director, principal, and employee of the licensee or any other individual who may provide information on behalf of the licensee.
Structure Maryland Statutes
Title 12 - Miscellaneous Institutions and Activities
Subtitle 9 - Maryland Debt Management Services Act
Section 12-902 - Applicability
Section 12-906 - Debt Management Services Without License Prohibited; Requirements
Section 12-907 - License Requirements
Section 12-909 - Fingerprints and Criminal History Records Check
Section 12-910 - Investigation; Time Period; Issuance; Denial
Section 12-911 - Contents of License; Authorization; Transfer; Display; Notice on Website
Section 12-912 - Term, Expiration, and Renewal of License
Section 12-915 - Change of Information Included in the Application
Section 12-916 - Requirements for Providing Debt Management Services
Section 12-917 - Trust Account
Section 12-920 - Prohibited Activities
Section 12-922 - Retention of Books, Accounts, and Records
Section 12-923 - Investigation
Section 12-924 - On-Site Examination
Section 12-925 - License Number to Be Included in Advertisement
Section 12-926 - Denial, Suspension, Revocation of License
Section 12-928 - Enforcement of Subtitle