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§ 11-413. Examination or audit of licensee

West's Annotated Code of MarylandFinancial Institutions

West's Annotated Code of Maryland
Financial Institutions
Title 11. Consumer Credit
Subtitle 4. Sales Finance Companies--Licensing Provisions
MD Code, Financial Institutions, § 11-413
§ 11-413. Examination or audit of licensee
Currentness
In general
(a) The Commissioner may not examine or audit any licensee or other person except as expressly provided in this section.
Written complaints filed with Commissioner
(b)(1) If a buyer has reason to believe that any person has violated any provision of this subtitle or of any other law that regulates agreements, the buyer may file with the Commissioner a written complaint that states the details of the alleged violation.
(2) On receipt of the written complaint, the Commissioner may inspect any books, records, letters, and contracts of any licensee, seller, or other person that relate to the complaint.
Investigatory powers of Commissioner
(c) In investigating a written complaint made under this section, the Commissioner may:
(1) Hold a hearing on the complaint at a time and place in this State that are reasonably convenient to the parties involved;
(2) Subpoena witnesses;
(3) Take depositions of witnesses who reside outside of this State in the same manner as provided for depositions to be taken in civil actions in courts of record;
(4) Pay witnesses the same fees and mileage for their attendance as provided for witnesses in civil actions in courts of record; and
(5) Administer oaths.
Failure to comply with order or subpoena of Commissioner
(d)(1) If any person fails to comply with an order or subpoena of the Commissioner under this subtitle or to appear as a witness and 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, if it finds it appropriate to do so, shall order the person to:
(i) Obey the order or subpoena; and
(ii) Produce any necessary records, documents, or other evidence.
Findings on written complaint
(e) The Commissioner shall make findings on any written complaint made under this section and send a copy of the findings to each person involved in the complaint.
Refusals to permit investigation or examination by Commissioner
(f) A person may not knowingly refuse to permit the Commissioner to conduct any investigation or examination authorized by this section.

Credits

Added by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1982, c. 820, § 3.
Formerly Art. 83, §§ 162, 163.
MD Code, Financial Institutions, § 11-413, MD FIN INST § 11-413
Current through legislation effective through April 25, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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