2006 Michigan Compiled Laws - Mich. Comp. Laws § 451.427 Examination of licensee.
Act 148 of 1975 451.427 Examination of licensee. Sec. 17. The department may examine, without notice, the condition and affairs of a licensee. In connection with an examination, the department may examine on oath a licensee and any director, officer, employee, customer, creditor, manager, member, partner, or stockholder of the licensee concerning the affairs and business of the licensee. The department shall ascertain whether the licensee transacts its business in the manner prescribed by this act and the rules promulgated under this act. The licensee shall pay the actual cost of the examination as determined by the department, which fee shall be deposited in the state treasury to the credit of the department. Failure to pay the examination fee within 30 days after receipt of demand from the department shall automatically suspend the license of the licensee until the fee is paid.
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