534.403 - EXAMINATIONS.
534.403 EXAMINATIONS. 1. Superintendent's authority -- examinations. The superintendent and examiners shall have full access to all books and papers of an association which relate to its business, and to books, records, and papers kept by an officer, director, agent, or employee relating to, or upon which any record of its business is kept, and may summon witnesses and administer oaths or affirmations in the examination of the directors, officers, agents, or employees of an association, or any other person, in relation to its affairs, transactions, and condition, and may require and compel the production of records, books, papers, contracts, or other documents by court order, if not voluntarily produced. 2. Record required. A record of all examinations, reports, and related information shall be kept in the superintendent's office in accordance with the superintendent's record retention policies, showing in detail as to each association all matters connected with the conduct of its business, its financial standing, and everything touching its solvency, plan of business, and integrity. The examinations, reports, and information shall be kept confidential in the office of the superintendent, and are not subject to publication or disclosure to others except as provided in this chapter. However, the superintendent may furnish any examination, report, or information to the United States department of the treasury, federal deposit insurance corporation, federal housing finance board, federal home loan bank, national credit union administration, or financial institution regulatory authorities of any state. Any evidence of felonious acts on the part of the officers, directors, or employees of an association may be referred by the superintendent to proper authorities. Members of associations, other than their officers and directors, are not entitled to inspection of any such records or information, and are not entitled to any information relative to the names of the members of an association, or the amounts invested by them, as disclosed in the superintendent's office, or in the records of an association. 3. Revocation of authority. If an association refuses to submit to examination, the superintendent shall revoke its certificate of authority.
Section History: Early Form [C97, § 1904; C24, 27, 31, 35, § 9354, 9355--9358; C39, § 9354, 9356--9358; C46, 50, 54, 58, § 534.52, 534.54--534.56; C62, 66, 71, 73, 75, 77, 79, 81, § 534.41]
Section History: Recent Form C85, § 534.403 88 Acts, ch 1158, §80; 90 Acts, ch 1208, § 13, 14; 91 Acts, ch 92, §13; 2003 Acts, ch 145, §286; 2007 Acts, ch 88, §31