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§ 12-923. Investigations by Commissioner

West's Annotated Code of MarylandFinancial InstitutionsEffective: July 1, 2023

West's Annotated Code of Maryland
Financial Institutions
Title 12. Miscellaneous Institutions and Activities
Subtitle 9. Maryland Debt Management Services Act (Refs & Annos)
Effective: July 1, 2023
MD Code, Financial Institutions, § 12-923
§ 12-923. Investigations by Commissioner
Currentness
In general
(a) To discover any violations of this subtitle or to obtain any information required by this subtitle, the Commissioner at any time may investigate the business of:
(1) A licensee;
(2) A person that is engaged or participating in the business of providing debt management services; and
(3) Any other person that the Commissioner has cause to believe is violating this subtitle or any regulation adopted under this subtitle, whether that person claims to be within or beyond the scope of this subtitle.
Access to place of business, books and records, and persons
(b) For the purposes of this section, the Commissioner:
(1) Shall be given access to any licensed location or other place of business and all books, papers, records, safes, and vaults of the person under investigation; and
(2) May summon and examine under oath any person whose testimony the Commissioner requires.
Costs of investigation
(c) If, after an investigation conducted under this section, the Commissioner finds that the person that was investigated violated this subtitle or any regulation adopted under this subtitle, the person shall pay all reasonably incurred costs of the investigation.
Failure to comply with subpoena or summons of Commissioner
(d)(1) If a person fails to comply with a subpoena or summons of the Commissioner under this subtitle or to testify concerning any matter about which the person may be interrogated under this subtitle, the Commissioner may file a petition for enforcement with the circuit court for any county.
(2) On petition by the Commissioner, the court may order the person to attend and testify or produce evidence.

Credits

Added by Acts 2003, c. 374, § 1, eff. Oct. 1, 2003; Acts 2003, c. 375, § 1, eff. Oct. 1, 2003. Amended by Acts 2023, c. 567, § 1, eff. July 1, 2023.
MD Code, Financial Institutions, § 12-923, MD FIN INST § 12-923
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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