Examination of records of holding company controlling depository institution; required action to maintain solvency or prevent failure of subsidiary. If the Commissioner finds that it is in the public interest and necessary to protect the depositors and other customers of a depository institution he may:
1. Examine the books and records of the holding company which controls that depository institution and require the holding company to furnish such reports as he considers appropriate for the proper supervision of the company’s subsidiaries which are depository institutions; and
2. After notice and opportunity for hearing, require the holding company to take any action he finds reasonable and necessary to protect the interest of depositors, other customers and creditors of any subsidiary depository institution, to maintain its solvency or to prevent its failure.
Last modified: February 26, 2006