Revision Note
Sections 454F-1 to 454F-26 designated as Part I pursuant to §23G-15.
§454F-18 Powers of commissioner. (a) The commissioner may adopt rules pursuant to chapter 91 as the commissioner deems necessary for the administration of this chapter.
(b) In addition to any other powers provided by law, the commissioner shall have the authority to:
(1) Administer and enforce the provisions and requirements of this chapter;
(2) Adopt, amend, or repeal rules and issue declaratory rulings or informal nonbinding interpretations;
(3) Develop requirements for licensure through rules, including establishing the content of the written tests required under section 454F-7;
(4) Investigate and conduct hearings regarding any violation of this chapter or any rule or order of, or agreement with, the commissioner;
(5) Create fact-finding committees that may make recommendations to the commissioner for the commissioner's deliberations;
(6) Require an applicant or any of its control persons, officers, directors, employees, partners, members, managers, and agents to disclose their relevant criminal history and request a criminal history record check in accordance with chapter 846;
(7) Contract with or employ qualified persons, including investigators, examiners, or auditors who may be exempt from chapter 76 and who shall assist the commissioner in exercising the commissioner's powers and duties;
(8) Require that all fees, fines, and charges collected by the commissioner under this chapter, except for fees designated for deposit into the mortgage loan recovery fund pursuant to section 454F-41, be deposited into the compliance resolution fund established pursuant to section 26-9(o);
(9) Process and investigate complaints, subpoena witnesses and documents, administer oaths, and receive affidavits and oral testimony, including telephonic communications, and do any and all things necessary or incidental to the exercise of the commissioner's power and duties, including the authority to conduct contested case proceedings under chapter 91; and
(10) Require a licensee to comply with any rule, guidance, guideline, statement, supervisory policy or any similar proclamation issued or adopted by the Federal Deposit Insurance Corporation to the same extent and in the same manner as a bank chartered by the State or in the alternative, any policy position of the Conference of State Bank Supervisors. [L Sp 2009, c 32, pt of §2; am L 2010, c 84, §23]
Section: Previous 454f-11 454f-12 454f-13 454f-14 454f-15 454f-16 454f-17 454f-18 454f-19 454f-20 454f-21 454f-22 454f-23 454f-24 454f-25 NextLast modified: October 27, 2016