Powers and duties concerning examinations.
1. The examiners of financial institutions shall verify all reports made to the Commissioner by the officers and directors of any banking corporation, as required by this title or by the Commissioner.
2. The officers of every bank shall submit and surrender its books, assets, papers and concerns to the examiners appointed by the Commissioner, who shall retain the custody and possession of such books, assets, papers and concerns for such length of time as may be required for the purpose of making an examination as required by this title.
3. If any officer refuses to surrender such books, assets, papers and concerns, or refuses to be examined under oath touching the affairs of such bank, the Commissioner may forthwith take possession of the property and business of the bank and liquidate its affairs in accordance with the provisions of this title.
Last modified: February 26, 2006