{"data":{"id":"us-md/md.-code-financial-institutions-12-424","jurisdiction":"us-md","citation":"Md. Code, Financial Institutions § 12–424","heading":"","body":"(a) The Commissioner may conduct an examination of a licensee or an authorized delegate with not less than 7 business days’ prior notice.\n(b) With good cause, the Commissioner may conduct an examination of a licensee or an authorized delegate with no prior notice.\n(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.\n(d) Any examination may be conducted in conjunction with an examination performed by a representative of a responsible supervisory agency of another state.\n(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.\n(2) A report accepted under paragraph (1) of this subsection is considered for all purposes as an official report of the Commissioner.\n(f) The Commissioner may:\n(1) Examine all books, accounts, and records the Commissioner determines are necessary to conduct a complete examination; and\n(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.","path":["Article - Financial Institutions"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi\u0026section=12-424","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:27Z","sha256":"ba26780184864f5e245d22364bac271009bbcb11a78afeb5cbd13ae965eb7b82","source_id":"us-md","stale":false,"prev":"us-md/md.-code-financial-institutions-12-423","next":"us-md/md.-code-financial-institutions-12-425"},"notice":"GroundRules: Original legal text. Not legal advice."}