81-14-161 - Commissioner to have right of access to books and records of savings banks; right to issue subpoenas, administer oaths, examine witnesses.
§ 81-14-161. Commissioner to have right of access to books and records of savings banks; right to issue subpoenas, administer oaths, examine witnesses.
(1) The commissioner and his agents:
(a) Shall have free access to all books and records of a savings bank, or a service corporation or holding company thereof, that relate to its business, and the books and records kept by any officer, agent or employee relating to the business of the savings bank;
(b) May subpoena witnesses and administer oaths or affirmations in the examination of any director, officer, agent or employee of a savings bank, or a service corporation or holding company thereof, or of any other person in relation to its affairs, transactions and conditions;
(c) May require the production of records, books, papers, contracts and other documents; and
(d) May order that improper entries be corrected on the books and records of a savings bank.
(2) The commissioner may issue subpoenas duces tecum.
(3) If a person fails to comply with a subpoena so issued by the commissioner, or a party or witness refuses to testify on any matters, a court of competent jurisdiction, on the application of the commissioner, shall compel compliance by proceedings for contempt as in the case of disobedience of the requirements of a subpoena issued from such court or a refusal to testify in such court.
Sources: Laws, 1992, ch. 489, § 46; reenacted without change, Laws, 1997, ch. 364, § 46; reenacted without change, Laws, 2001, ch. 457, § 46, eff from and after July 1, 2001.