367.160. Examination of lenders--authority of director--lender to pay costs, when.

MISSOURI STATUTES AND CODES

367.160. Examination of lenders--authority of director--lender to pay costs, when.

Examination of lenders--authority of director--lender to pay costs,when.

367.160. The director, his deputies and examiners shall havefull power and authority at any time and as often as reasonablynecessary to investigate or examine the supervised business,affairs and loans made in the supervised business of anyregistered lender and of every person, firm, partnership andcorporation making loans who the director has reasonable groundsto believe is subject to and violating the provisions of sections367.100 to 367.200, for the purpose of ascertaining whether ornot the lender, or such person, firm, partnership or corporationis complying with the provisions of sections 367.100 to 367.200and the laws of Missouri relating to consumer credit loans orassignment or sale of wages or salary or other compensation. Inconnection with any such investigation or examination thedirector and his representatives shall have free and immediateaccess to the lender's place or places of business and his or itsbooks and records and shall have the right and power to examineunder oath all persons whomsoever whose testimony may be requiredrelative to the affairs and business of the particular lender.Whenever it is necessary to examine the business and loans of aregistered lender more than once a year or of any other lender atany time, then the lender shall be chargeable with and berequired to pay the necessary cost and expenses thereof,including the actual travel expenses and a per diem of onehundred dollars for each examining official while engaged intravel to and from the place of such examination and during theperiod required for such examination. Whenever any lender issubject to examination by or required to make reports tomunicipal officers under city ordinances regulating thesupervised business, such examinations or reports shall be inlieu of the examinations and reports required by the provisionsof sections 367.100 to 367.200.