                                 CODE OF VIRGINIA

(EFFECTIVE JULY 1, 2026) SUPERVISION (§ 6.2-1926)

A. The Commission may conduct an examination or investigation of a licensee or
authorized delegate or otherwise take independent action authorized by this
chapter or by a regulation adopted or order issued under this chapter as
reasonably necessary or appropriate to administer and enforce this chapter,
regulations implementing this chapter, and other applicable law, including the
Bank Secrecy Act and the federal U.S.A. Patriot Act of 2001 (49 U.S.C. § 5103a
et seq.). The Commission may:

   1. Conduct an examination or investigation either on site or off site as the
   Commission may reasonably require;

   2. Conduct an examination or investigation in conjunction with an examination
   or investigation conducted by representatives of other state agencies or
   agencies of another state or of the federal government;

   3. Accept the examination or investigation report of an agency of another
   state or of the federal government, or a report prepared by an independent
   accounting firm, which on being accepted is considered for all purposes as an
   official report of the Commission; and

   4. Examine or investigate under oath a key individual or employee of a
   licensee or authorized delegate and require the person to produce records
   regarding any matter related to the condition and business of the licensee or
   authorized delegate.

B. A licensee or authorized delegate shall provide, and the Commission shall
have full and complete access to, all records the Commission may reasonably
require to conduct a complete examination. The records shall be provided at the
location and in the format specified by the Commission, provided that the
Commission may utilize multistate record production standards and examination
procedures when such standards and procedures will reasonably achieve the
requirements of this section.

C. Unless otherwise directed by the Commission, a licensee shall pay all costs
reasonably incurred in connection with an examination of the licensee or the
licensee&#8217;s authorized delegates.

HISTORY: 2025, c. 214.