(a) Every licensee must maintain records as provided in section 401.1 of the superintendent's regulations. All such records and supporting documents and any additional records which the superintendent may require relating to loans made to New York State residents must be kept separate and apart from any other records of the licensee and must be made available for examination at any time by representatives of the New York State Department of Financial Services. The licensee will be required to pay the cost of all examinations, including travel expenses for department personnel.

(b) Every licensee shall be subject to the relevant provisions of sections 401.4, 401.5 and 401.6 of the superintendent's regulations.