Sec. 36a-605. (Formerly Sec. 36-541). Examination of licensees.
Sec. 36a-605. (Formerly Sec. 36-541). Examination of licensees. In connection
with the examination of a licensee under section 36a-17, the commissioner may also
examine the agents and subagents of such licensee. The commissioner, in lieu of conducting an examination, may accept the report of examination of any other state or
federal supervisory agency or any organization affiliated with or representing such supervisory agency with respect to the examination or other supervision of any person
subject to the provisions of sections 36a-595 to 36a-610, inclusive, or a report prepared
by an independent accounting firm, and reports so accepted are considered for purposes
of sections 36a-595 to 36a-610, inclusive, as an official examination report of the commissioner.
(P.A. 81-264, S. 12; P.A. 87-9, S. 2, 3; P.A. 94-122, S. 281, 340; P.A. 01-56, S. 12; P.A. 04-14, S. 10; P.A. 08-176, S. 78.)
History: (Revisor's note: Pursuant to P.A. 87-9 "banking department" was changed editorially by the Revisors to
"department of banking"); P.A. 94-122 deleted language allowing authorized employees of the commissioner to examine
a licensee's books and records, language allowing employees of a licensee to be examined by the commissioner and
language requiring a licensee to pay the cost of such examination, effective January 1, 1995; Sec. 36-541 transferred to
Sec. 36a-605 in 1995; P.A. 01-56 deleted existing provisions re commissioner's examination of licensee, added new Subsec.
(a) re examination under Sec. 36a-17 or acceptance of a report in lieu thereof and added new Subsec. (b) permitting the
commissioner to enter into cooperative, coordinating and information-sharing agreements; P.A. 04-14 amended Subsec.
(b) to provide that agreement may include provisions re assessment or sharing of fees for examination or supervision; P.A.
08-176 deleted former Subsec. (b) re information sharing agreements and made a technical change, effective July 1, 2008.