9-1701. Examination of banks and trust companies.
9-1701
9-1701. Examination of banks and trust companies.
(a) The commissioner or the commissioner's assistant or examiners shall
visit each bank and trust company at least once every 18
months, and may
visit any bank or trust company if the commissioner deems it necessary, for
the purpose of making a full and careful examination and inquiry into the
condition of the affairs of such bank or trust company. For such purpose
the commissioner, the commissioner's assistant and examiners are authorized
to administer oaths and to examine under oath the directors, officers,
employees and agents of any bank or trust company. Such examination shall
be reduced to writing by the person making it and such person's reports
shall contain a full, true and careful statement of the condition of such
bank or trust company. The commissioner in lieu of making a direct
examination and inquiry may accept the examination and report of an
authorized federal agency. The commissioner shall provide to the board of
directors of the bank or trust company a copy of the examination report written
by the state examiners. Neither the
commissioner, the commissioner's assistant nor any examiner shall examine
any bank or trust company in which the person making such examination is a
stockholder or is otherwise financially interested or to which bank or
trust company or any officer thereof the person making the examination is
indebted.
(b) The examination team may conduct an exit review meeting with the
board of
directors of a bank or trust company following the examination provided in
subsection (a), of such bank or trust company.
Such an exit
review shall be conducted when requested by the board of directors or
management of the bank or trust company.
Minutes shall be kept
at all exit review meetings by the bank in any manner the bank determines to be
appropriate.
History: L. 1947, ch. 102, § 87; L. 1965, ch. 78, §
1; L. 1975, ch. 44, § 29; L. 1976, ch. 59, § 1; L. 1984, ch. 48, § 13;
L. 1991, ch. 47, § 1; July 1.