§12–424.

    (a)    The Commissioner may conduct an examination of a licensee or an authorized delegate with not less than 7 business days’ prior notice.

    (b)    With good cause, the Commissioner may conduct an examination of a licensee or an authorized delegate with no prior notice.

    (c)    The licensee shall pay all reasonably incurred costs of an examination conducted under this section, including a per–day fee set by the Commissioner for each of the Commissioner’s employees engaged in the examination.

    (d)    Any examination may be conducted in conjunction with an examination performed by a representative of a responsible supervisory agency of another state.

    (e)    (1)    The Commissioner, in lieu of an examination, may accept the examination report of a responsible supervisory agency of another state, or a report prepared by an independent accounting firm.

        (2)    A report accepted under paragraph (1) of this subsection is considered for all purposes as an official report of the Commissioner.

    (f)    The Commissioner may:

        (1)    Examine all books, accounts, and records the Commissioner determines are necessary to conduct a complete examination; and

        (2)    Examine under oath any officer, director, or employee of the licensee, or any other individual who may provide information on behalf of the licensee.