Maryland Financial Institutions Section 12-424

      (a)      The Commissioner may conduct an on-site examination of a licensee or authorized delegate with not less than 7 business days prior notice.

      (b)      With good cause, the Commissioner may conduct an on-site examination of a licensee or authorized delegate with no prior notice.

      (c)      The licensee shall pay all reasonably incurred costs of an examination.

      (d)      The on-site examination may be conducted in conjunction with an examination performed by a representative of a responsible supervisory agency of another state.

      (e)      (1)      The Commissioner, in lieu of an on-site examination, may accept the examination report of a responsible supervisory agency of another state, or a report prepared by an independent accounting firm.

            (2)      A report accepted under paragraph (1) of this subsection is considered for all purposes as an official report of the Commissioner.

      (f)      The Commissioner may:

            (1)      Examine all books, accounts, and records the Commissioner determines are necessary to conduct a complete examination; and

            (2)      Examine under oath any officer, director, or employee of the licensee, or any other individual who may provide information on behalf of the licensee.