81-25-145 - Examination by commissioner.
§ 81-25-145. Examination by commissioner.
(1) A Mississippi state branch, Mississippi state agency or Mississippi representative office shall be subject to examination by the commissioner at such intervals and in such a manner as he or she shall establish by regulation or order.
(2) In conducting an examination pursuant to this section, the commissioner shall:
(a) Have full access to the offices, books, accounts, and records of each office located in the State of Mississippi as well as all of the books, accounts and records maintained in this state of any office not located in the State of Mississippi of such foreign bank; and
(b) Have authority to require the attendance of and to examine under oath all persons whose testimony may be required relative to the activities of such office.
(3) A foreign bank which is licensed to establish and maintain a Mississippi state branch, Mississippi state agency or Mississippi representative office shall be assessed a reasonable fee for the expenses incurred by the commissioner in making an examination of such office. Such fee shall be assessed in an amount and in a manner as the commissioner shall establish by regulation.
(4) A foreign bank which is licensed to establish and maintain a Mississippi state branch, Mississippi state agency or Mississippi representative office shall be subject to all reasonable fees and expenses in such amounts as the commissioner may require by regulation.
Sources: Laws, 1996, ch. 441, § 46, eff from and after May 1, 1997.