§ 54-109.16. Annual examinations required; payment of cost. - North Carolina Statutes

§54‑109.16.  Annual examinations required; payment of cost.

The Administrator of CreditUnions shall cause every such corporation to be examined once a year andwhenever he deems it necessary. The examiners appointed by him shall be givenfree access to all books, papers, securities, and other sources of informationin respect to the corporation; and for the purpose of such examination theAdministrator shall have power and authority to subpoena and examinepersonally, or by one of his deputies or examiners, witnesses on oath anddocuments, whether such witnesses are members of the corporation or not, andwhether such documents are documents of the corporation or not. TheAdministrator may designate an independent auditing firm to do the work underhis direction and supervision, with the cost to be paid by the credit unioninvolved. (1915, c. 115, s. 7; C.S., s. 5239; 1925, c. 73, s. 3;1935, c. 87; 1965, c. 956, ss. 1, 25; 1969, c. 69, ss. 7, 8; 1975, c. 538, s.1; 1977, c. 559, s. 4.)