90-8-313. Examination. - Montana Statutes

     90-8-313. Examination. (1) At least once a year the department shall examine the books and affairs of each Montana capital company and of each qualified Montana small business investment capital company. The examination must address the methods of operation and conduct of the business of the Montana capital company or of the Montana small business investment capital company to determine if the company is abiding by the purposes of this chapter and that the funds received by the company have been invested within the time limits required for a qualified Montana capital company or for a qualified Montana small business investment capital company in 90-8-301.
     (2) The department may examine under oath any of the officers, directors, agents, employees, or investors of a Montana capital company regarding the affairs and business of the company. The department may issue subpoenas and administer oaths. Refusal to obey such a subpoena may at once be reported to the district court of the district in which the company is located, and the court shall enforce obedience to the subpoena in the manner provided by law.
     (3) The cost of the annual review must be paid by each Montana capital company or by each Montana small business investment capital company in accordance with reasonable fees assessed by the department.

     History: En. Sec. 12, Ch. 554, L. 1983; amd. Sec. 16, Ch. 263, L. 1991; amd. Sec. 10, Ch. 576, L. 1991; amd. Sec. 15, Ch. 410, L. 1999.