Section 14-125 - Inspection and examination. - Maryland Statutes

§ 14-125. Inspection and examination.
 

(a)  In general.- The Commissioner or an examiner of the Administration may inspect and examine the affairs of a corporation authorized under this subtitle and an affiliate or subsidiary of a corporation authorized under this subtitle. 

(b)  Conduct of inspection and examination.- In conducting an inspection or examination under this section, the Commissioner or examiner: 

(1) shall have free access to all of the books and documents of the corporation and its affiliates or subsidiaries; and 

(2) may subpoena and examine under oath any person, including an officer, agent, or employee of the corporation or its affiliates and subsidiaries, in relation to the affairs, transactions, and condition of the corporation or its affiliates and subsidiaries. 

(c)  Delegation of authority.- The Commissioner may delegate the authority provided under this section to a designee of the Commissioner. 

(d)  Expenses of examination.- The corporation or its affiliate or subsidiary whose affairs are examined under this section shall pay the expenses of examination in accordance with § 2-208 of this article. 
 

[An. Code 1957, art. 48A, § 358; 1997, ch. 35, § 2.]