Sec. 22.
(1) The commissioner may conduct an on-site examination or investigation of records maintained under section 25, including a joint examination or investigation conducted with representatives of other departments or agencies of this state, 1 or more agencies of another state, or of the federal government.
(2) The commissioner may accept an examination or investigation report of a department or agency of this state or of another state or of the federal government or a report prepared by a certified public accountant instead of conducting an examination or investigation.
(3) A joint examination or investigation or an acceptance of an examination or investigation report under this section does not preclude the commissioner from conducting his or her own examination or investigation.
(4) The report of a joint investigation or an examination report accepted by the commissioner under this section is an official report of the commissioner for all purposes.
History: 2006, Act 250, Imd. Eff. July 3, 2006
Structure Michigan Compiled Laws
Chapter 487 - Financial Institutions
Act 250 of 2006 - Money Transmission Services Act (487.1001 - 487.1047)
Section 487.1001 - Short Title.
Section 487.1002 - Definitions; a to L.
Section 487.1003 - Definitions; M to T.
Section 487.1004 - Applicability of Act.
Section 487.1011 - Money Transmission Services; License Required; Exception.
Section 487.1012 - License Application; Form; Information Required.
Section 487.1015 - Fee Schedule; Expiration and Renewal of License.
Section 487.1016 - Travel Expenses; Recovery of Fees and Fines; Collection; Disposition.
Section 487.1021 - Information Obtained in Examination or Investigation; Disclosure Prohibited.
Section 487.1022 - Joint Examination or Investigation.
Section 487.1023 - Changed Information; Filing; Events Requiring Filing of Report.
Section 487.1026 - Disclosure of Information.
Section 487.1031 - Permissible Investments.
Section 487.1032 - Investments Permitted Under MCL 487.1031; Limitation.
Section 487.1033 - Agreement Between Licensee and Authorized Delegate.
Section 487.1034 - Authorized Delegate; Prohibited Conduct; Duties.
Section 487.1042 - Violations; Penalties; Restitution.
Section 487.1043 - Summary Suspension Order.
Section 487.1044 - Cease and Desist Order.