§ 7-11-211 - Inspection power.
SECTION 7-11-211
§ 7-11-211 Inspection power. – (a) Without previous notice, the director may examine or investigate in amanner reasonable under the circumstances the records, within or without thisstate, of a broker dealer, sales representative, investment adviser, orinvestment adviser representative licensed by the state or entitled to anexemption from licensing as well as any person who may be acting as a broker,dealer, sales representative, investment adviser, or investment adviserrepresentative without a license or exemption to engage in such activity(ies)in order to determine compliance with this chapter. Broker dealers, salesrepresentatives, investment advisers, and investment adviser representativesmust make their records available to the director in legible form.
(b) The director may copy records or require a licensedperson to copy records and provide the copies to the director to the extent andin a manner reasonable under these circumstances.
(c) The director may impose a reasonable fee for the expenseof conducting an examination or an investigation under this section.
(d) Upon receipt of a report or complaint, the director mayconduct an inspection to determine whether any violation or unlicensed activityhas occurred.