§ 5-201. Examination of institution

   (a) Examinations required. -- An examiner shall visit each banking institution and examine its business:

   (1) At least once during each calendar year, unless the Commissioner determines that, during a calendar year, an examination is unnecessary, in which event an examination shall occur no less frequently than once every 18 months;

   (2) When asked to do so by the board of directors of the institution; or

   (3) At any other time that the Commissioner considers necessary.

(b) Purpose. -- The examiner shall determine:

   (1) The condition of the institution; and

   (2) Whether it is complying with the law.

(c) Access to records. -- During an examination, the examiner, in the presence of an officer of the banking institution, shall have access to all of the vaults and records of the institution.

HISTORY: An. Code 1957, art. 11, § 6, 20; 1980, ch. 33, § 2; 1981, ch. 618; 1987, ch. 31; 1996, ch. 192; ch. 326, § 2.