North Carolina General Statutes § 54B-60 Commissioner of Banks to have right of access to books and records of association; right to issue subpoenas, administer oaths, examine witnesses

(a)        The Commissioner of Banks and his agents:

(1)        Shall have free access to all books and records of an association, or a service corporation thereof, that relate to its business, and the books and records kept by an officer, agent or employee relating to or upon which any record is kept;

(2)        May subpoena witnesses and administer oaths or affirmations in the examination of any director, officer, agent, or employee of an association, or a service corporation thereof or of any other person in relation to its affairs, transactions and conditions;

(3)        May require the production of records, books, papers, contracts and other documents; and

(4)        May order that improper entries be corrected on the books and records of an association.

(b)        The Commissioner of Banks may issue subpoenas duces tecum.

(c)        If a person fails to comply with a subpoena so issued or a party or witness refuses to testify on any matters, a court of competent jurisdiction, on the application of the Commissioner of Banks, shall compel compliance by proceedings for contempt as in the case of disobedience of the requirements of a subpoena issued from such court or a refusal to testify in such court. (1981, c. 282, s. 3; 2001-193, s. 16.)

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Last modified: March 23, 2014