Md. Code, Financial Institutions § 12-424

in effect

(a) The Commissioner may conduct an examination of a licensee or an authorized delegate with not less than 7 business days’ prior notice. (b) With good cause, the Commissioner may conduct an examination of a licensee or an authorized delegate with no prior notice. (c) The licensee shall pay all reasonably incurred costs of an examination conducted under this section, including a per–day fee set by the Commissioner for each of the Commissioner’s employees engaged in the examination. (d) Any 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 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.

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi&section=12-424&enactments=falseFetched: 10/17/2026