N.Y. Banking Law § 497: Investigations and examinations

§ 497. Investigations and examinations. 1. The superintendent shall

have the power to make such investigations as he shall deem necessary to

determine whether any licensee or any other person has violated any of

the provisions of this article or any other law relating to retail

instalment sales, contracts, obligations or credit agreements, and to

the extent necessary for this purpose, he may require the attendance of

and examine any person under oath, and shall have the power to compel

the production of all relevant books, records, accounts, and documents.

2. The superintendent shall have the power to make such examinations

of the books, records, accounts and documents used in the business of

any licensee as he shall deem necessary to determine whether such

licensee has violated any of the provisions of this article or any other

law relating to retail instalment sales, contracts, obligations or

credit agreements.

3. The expenses incurred in making any examination pursuant to

subdivision two of this section four hundred ninety-seven shall be

assessed against and paid by the licensee so examined, except that

traveling and subsistence expenses so incurred shall be charged against

and paid by licensees in such proportions as the superintendent shall

deem just and reasonable, and such proportionate charges shall be added

to the assessment of the other expenses incurred upon each examination.

Upon written notice by the superintendent of the total amount of such

assessment, the licensee shall become liable for and shall pay such

assessment to the superintendent.

4. All reports of examinations and investigations, and all

correspondence and memoranda concerning or arising out of such

examinations or investigations, including any duly authenticated copy or

copies thereof in the possession of any licensee or the department of

financial services, shall be confidential communications, shall not be

subject to subpoena and shall not be made public unless, in the judgment

of the superintendent, the ends of justice and the public advantage will

be subserved by the publication thereof, in which event he may publish

or authorize the publication of a copy of any such report or other

material referred to in this subdivision four, or any part thereof, in

such manner, as he may deem proper.