1. The superintendent shall have the power to make such investigations as he shall
deem necessary to determine whether any licensee or any other person has violated
any of the provisions of this article or any other law relating to retail instalment
sales, contracts, obligations or credit agreements, and to the extent necessary for
this purpose, he may require the attendance of and examine any person under oath,
and shall have the power to compel the production of all relevant books, records,
accounts, and documents.
2. The superintendent shall have the power to make such examinations of the books,
records, accounts and documents used in the business of any licensee as he shall deem
necessary to determine whether such licensee has violated any of the provisions of
this article or any other law relating to retail instalment sales, contracts, obligations
or credit agreements.
3. The expenses incurred in making any examination pursuant to subdivision two of
this section four hundred ninety-seven shall be assessed against and paid by the licensee so examined, except that traveling
and subsistence expenses so incurred shall be charged against and paid by licensees
in such proportions as the superintendent shall deem just and reasonable, and such
proportionate charges shall be added to the assessment of the other expenses incurred
upon each examination. Upon written notice by the superintendent of the total amount of such assessment,
the licensee shall become liable for and shall pay such assessment to the superintendent.
4. All reports of examinations and investigations, and all correspondence and memoranda
concerning or arising out of such examinations or investigations, including any duly
authenticated copy or copies thereof in the possession of any licensee or the department
of financial services, shall be confidential communications, shall not be subject
to subpoena and shall not be made public unless, in the judgment of the superintendent,
the ends of justice and the public advantage will be subserved by the publication
thereof, in which event he may publish or authorize the publication of a copy of any
such report or other material referred to in this subdivision four, or any part thereof,
in such manner, as he may deem proper.
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