Section 8-7A-12

Examinations.

(a) The commission may conduct an annual examination of a licensee or of any of its authorized delegates.

(b) The commission may examine a licensee or its authorized delegate, at any time, if the commission has reason to believe that the licensee or authorized delegate is engaging in an unsafe or unsound practice or has violated or is violating this chapter or any rule adopted or order issued under this chapter.

(c) If the commission concludes that an on-site examination is necessary under subsection (b), the licensee shall pay the reasonable cost of the examination.

(d) Information obtained during any examination under this chapter may be disclosed only as prescribed in Section 8-7A-21.

(Act 2017-389, §2.)