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§ 11-101. Travel and living expenses incurred by Commissioner paid by entity being examined

West's Annotated Code of MarylandFinancial InstitutionsEffective: June 1, 2010

West's Annotated Code of Maryland
Financial Institutions
Title 11. Consumer Credit
Subtitle 1. General Provisions (Refs & Annos)
Effective: June 1, 2010
MD Code, Financial Institutions, § 11-101
§ 11-101. Travel and living expenses incurred by Commissioner paid by entity being examined
Currentness
Definitions
(a)(1) In this section the following words have the meanings indicated.
(2) “Examination” means an examination or investigation performed by the Commissioner, or the Commissioner's designee, which is required or authorized under this article or Title 12 of the Commercial Law Article.
(3) “Licensee” means a person licensed by the Commissioner under this title.
(4) “Person” includes an individual, corporation, business trust, statutory trust, estate, partnership, association, two or more persons having a joint or common interest, or any other legal or commercial entity.
Travel and living expenses paid by entity being examined
(b) Travel and living expenses reasonably incurred by the Commissioner or the Commissioner's designated examiners arising from the examination of a licensee whose place of business being examined is located outside the geographical boundaries of Maryland, shall be paid by the entity being examined.
Production of necessary documentation in place of on-site examination
(c)(1) Subsection (b) of this section does not apply if the licensee physically produces all documentation deemed by the Commissioner to be necessary or appropriate to the examination within Maryland at a location designated by the Commissioner.
(2) The production of documentation under this subsection, instead of an on-site examination, shall be made at the Commissioner's sole discretion.

Credits

Added as Financial Institutions § 11-104 by Acts 1996, c. 524, § 1, eff. July 1, 1996. Renumbered as Financial Institutions § 11-101 by Acts 1997, c. 14, § 1, eff. April 8, 1997. Amended by Acts 2006, c. 84, § 1, eff. Oct. 1, 2006; Acts 2010, c. 611, § 2, eff. June 1, 2010.
MD Code, Financial Institutions, § 11-101, MD FIN INST § 11-101
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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