6-1113. Reports; examination; costs
A. The superintendent may require reports from and examine financial institution
holding companies and each subsidiary of the holding companies. The superintendent shall
accept the examination and financial reports of the appropriate federal or state holding
company regulatory authority in lieu of any examination or financial report authorized or
required by this chapter. The reports so accepted are considered for all purposes as
official reports of the department.
B. Notwithstanding subsection A of this section, the superintendent may require
reports from and examine financial institution holding companies and their subsidiaries
if it appears to the superintendent that any of these entities has engaged, is engaging
or is about to engage in any act, practice or transaction which constitutes an unsafe or
unsound practice or a violation of this title or any rule or order of the
superintendent. This section does not prohibit the department from participating with
federal regulators in the examinations to aid in enforcing this title.
C. The cost of any examination shall be assessed against and paid by each financial
institution holding company pursuant to section 6-125.
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