(1) The director shall examine each licensee not less than once every twenty-four months.

     (2) The director may with or without notice and at any time during regular business hours examine a licensee or a subsidiary of a licensee.

     (3) A director, officer, or employee of a licensee or of a subsidiary of a licensee being examined by the director or a person having custody of any of the books, accounts, or records of the licensee or of the subsidiary shall otherwise facilitate the examination so far as it is in his or her power to do so.

     (4) If in the director's opinion it is necessary in the examination of a licensee, or of a subsidiary of a licensee, the director may retain any certified public accountant, attorney, appraiser, or other person to assist the director. The licensee being examined shall pay the fees of a person retained by the director under this subsection.

[2006 c 87 § 30; 1994 c 92 § 268; 1989 c 212 § 9.]