§ 6-403. Examinations of credit unions

   (a) "Examiner" defined. -- In this section, "examiner" means:

   (1) The Commissioner; and

   (2) An individual whom the Commissioner designates as examiner.

(b) Examinations required. -- An examiner shall visit each credit union 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 requested by the board or supervisory committee of the credit union; and

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

HISTORY: An. Code 1957, art. 11, § 20, 141, 142; 1980, ch. 33, § 2; 1996, ch. 326, § 2; 1997, ch. 585; 2001, ch. 147, § 1; ch. 148, § 1.