N.Y. Banking Law § 599-o: Rules, regulations and examinations

§ 599-o. Rules, regulations and examinations. 1. The superintendent is

hereby authorized and empowered to make such rules and regulations and

interim procedures for licensing and acceptance of applications as may

in his or her judgment be necessary or appropriate for the effective

administration or enforcement of this article. For individuals

previously authorized to act as mortgage loan originators under this

chapter, the superintendent may establish expedited review and licensing

procedures.

2. For the purpose of discovering violations of this article or

securing information lawfully required by him or her hereunder, the

superintendent may at any time, and as often as he or she may determine,

investigate the business and examine the books, accounts, records, and

files of every licensee under this article and any entity with which

such individual is associated as an employee or independent contractor.

For that purpose the superintendent shall have free access to the

offices and places of business, books, accounts, papers, records, files,

safes and vaults of all such entities. The superintendent shall have

authority to require the attendance of and to examine under oath all

persons whose testimony he or she may deem necessary or desirable

relative to such business. The expenses incurred in making any

examination pursuant to this section 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.