§ 54-109.16.  Examinations required; payment of cost.

The Administrator shall examine every credit union formed under Articles 14A and 15A of this Chapter once every 18 months or more frequently if deemed necessary by the Administrator. The examiners appointed by the Administrator shall be given free access to all books, papers, securities, electronic or digital records, and other sources of information with respect to the credit union; for the purpose of the examination, the Administrator may subpoena and examine personally, or by one of the Administrator's deputies or examiners, witnesses on oath and documents, whether the witnesses are members of the credit union or not, and whether the documents are documents of the credit union or not. The Administrator may designate an independent auditing firm to conduct the examinations under the Administrator's direction and supervision, with the cost to be paid by the credit union involved.  (1915, c. 115, s. 7; C.S., s. 5239; 1925, c. 73, s. 3; 1935, c. 87; 1965, c. 956, ss. 1, 25; 1969, c. 69, ss. 7, 8; 1975, c. 538, s. 1; 1977, c. 559, s. 4; 2017-25, s. 4(b); 2026-31, s. 11(b).)