§ 6.2-1910. (Effective October 1, 2010) Examination of books by Commission;reporting violations.
A. The Commission shall have authority to examine the books and records ofall money order sellers and money transmitters, either directly or throughauthorized delegates. Except as provided herein, the Commission shall make anexamination of the books and records of each licensee at least once in everythree-year period, and shall adjust the surety bond or alternative securitydevice as it may deem necessary in accordance with § 6.2-1904. The Commissionmay also examine the books and records of any authorized delegate of alicensee as often as it is deemed to be in the public interest. Examinationsunder this section may be conducted in conjunction with examinations to beperformed by representatives of agencies of the federal government or anotherstate. The Commission, in lieu of an examination, may accept the examinationreport of the federal government or another state.
B. Any person designated by the Commission to make examinations pursuant tothis section shall have authority to (i) administer oaths, (ii) examine underoath in the course of such examinations, the principals, officers, directors,partners, and employees of any person required to be licensed by this chapteror such person's authorized delegates, and (iii) compel the production ofdocuments.
C. The Commission shall report violations of the licensing requirements of §6.2-1901 to the attorney for the Commonwealth of the city or county in whichsuch violation occurs.
(1974, c. 578, § 6.1-375; 1976, c. 531; 1990, c. 259; 1994, c. 889; 2001, c.372; 2009, c. 346; 2010, c. 794.)
§ 6.2-1910. (Effective October 1, 2010) Examination of books by Commission;reporting violations.
A. The Commission shall have authority to examine the books and records ofall money order sellers and money transmitters, either directly or throughauthorized delegates. Except as provided herein, the Commission shall make anexamination of the books and records of each licensee at least once in everythree-year period, and shall adjust the surety bond or alternative securitydevice as it may deem necessary in accordance with § 6.2-1904. The Commissionmay also examine the books and records of any authorized delegate of alicensee as often as it is deemed to be in the public interest. Examinationsunder this section may be conducted in conjunction with examinations to beperformed by representatives of agencies of the federal government or anotherstate. The Commission, in lieu of an examination, may accept the examinationreport of the federal government or another state.
B. Any person designated by the Commission to make examinations pursuant tothis section shall have authority to (i) administer oaths, (ii) examine underoath in the course of such examinations, the principals, officers, directors,partners, and employees of any person required to be licensed by this chapteror such person's authorized delegates, and (iii) compel the production ofdocuments.
C. The Commission shall report violations of the licensing requirements of §6.2-1901 to the attorney for the Commonwealth of the city or county in whichsuch violation occurs.
(1974, c. 578, § 6.1-375; 1976, c. 531; 1990, c. 259; 1994, c. 889; 2001, c.372; 2009, c. 346; 2010, c. 794.)
§ 6.2-1910. (Effective October 1, 2010) Examination of books by Commission;reporting violations.
A. The Commission shall have authority to examine the books and records ofall money order sellers and money transmitters, either directly or throughauthorized delegates. Except as provided herein, the Commission shall make anexamination of the books and records of each licensee at least once in everythree-year period, and shall adjust the surety bond or alternative securitydevice as it may deem necessary in accordance with § 6.2-1904. The Commissionmay also examine the books and records of any authorized delegate of alicensee as often as it is deemed to be in the public interest. Examinationsunder this section may be conducted in conjunction with examinations to beperformed by representatives of agencies of the federal government or anotherstate. The Commission, in lieu of an examination, may accept the examinationreport of the federal government or another state.
B. Any person designated by the Commission to make examinations pursuant tothis section shall have authority to (i) administer oaths, (ii) examine underoath in the course of such examinations, the principals, officers, directors,partners, and employees of any person required to be licensed by this chapteror such person's authorized delegates, and (iii) compel the production ofdocuments.
C. The Commission shall report violations of the licensing requirements of §6.2-1901 to the attorney for the Commonwealth of the city or county in whichsuch violation occurs.
(1974, c. 578, § 6.1-375; 1976, c. 531; 1990, c. 259; 1994, c. 889; 2001, c.372; 2009, c. 346; 2010, c. 794.)
