§ 23-46-503 - When examinations made.
23-46-503. When examinations made.
(a) The Bank Commissioner shall, as often as may be deemed necessary or proper, appoint suitable persons to make an examination of each state bank or subsidiary trust company.
(b) (1) A thorough examination into the affairs of each state bank or subsidiary trust company shall be made at least once every twenty-four-month period. Provided, however, the twenty-four-month period may be extended to a thirty-six-month period if an interim thorough examination is performed by the state bank's or subsidiary trust company's primary federal regulatory authority.
(2) The commissioner may authorize examinations at more frequent intervals if he shall deem it proper.