Texas Finance Code - Section 151.601. Examinations
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Texas Lawyer > Finance Code > Texas Finance Code - Section 151.601. Examinations
§ 151.601. EXAMINATIONS. (a) The commissioner may
examine a license holder or authorized delegate of a license holder
as reasonably necessary or appropriate to administer and enforce
this chapter and rules adopted and orders issued under this chapter
and other applicable law, including the Bank Secrecy Act, the USA
PATRIOT ACT, and Chapter 271.
(b) The commissioner may:
(1) conduct an examination annually or at other times
as the commissioner may reasonably require;
(2) conduct an on-site examination or an off-site
review of records;
(3) conduct an examination in conjunction with an
examination conducted by representatives of other state agencies or
agencies of another state or of the federal government;
(4) accept the examination report of another state
agency or an agency of another state or of the federal government,
or a report prepared by an independent accounting firm, which on
being accepted is considered for all purposes as an official report
of the commissioner; and
(5) summon and examine under oath a principal,
responsible individual, or employee of a license holder or
authorized delegate of a license holder and require the person to
produce records regarding any matter related to the condition and
business of the license holder or authorized delegate.
(c) A license holder or authorized delegate of a license
holder shall provide, and the commissioner shall have full and
complete access to, all records the commissioner may reasonably
require to conduct a complete examination. The records must be
provided at the location and in the format specified by the
commissioner.
(d) Unless otherwise directed by the commissioner, a
license holder shall pay all costs reasonably incurred in
connection with an examination of the license holder or the license
holder's authorized delegate.
(e) Disclosure of information to the commissioner under an
examination request does not waive or otherwise affect or diminish
confidentiality or a privilege to which the information is
otherwise subject. Information disclosed to the commissioner in
connection with an examination is confidential under Section
151.606.
Added by Acts 2005, 79th Leg., ch. 1099, § 1, eff. Sept. 1, 2005.
Section: 151.405 151.501 151.502 151.503 151.504 151.505 151.506 151.601 151.602 151.603 151.604 151.605 151.606 151.701 151.702
Last modified: August 10, 2007
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