Section 14250 Of Article 2. Examinations And Reports From California Financial Code >> Division 5. >> Chapter 3. >> Article 2.
14250
. (a) (1) The commissioner may at any time investigate into
the affairs and examine the books, accounts, records, files, and any
office within or outside of this state used in the business of every
credit union, whether it acts or claims to act under or without
authority of this division.
(2) The commissioner and the commissioner's duly designated
representatives shall have free access to the offices and places of
business, books, accounts, papers, records, files, safes, and vaults
of every credit union referred to in paragraph (1).
(3) The officers and employees of every credit union being
examined shall exhibit to the examiners, on request, any or all of
its securities, books, records, and accounts and shall otherwise
cooperate with the examination so far as it may be in their power.
(b) (1) The commissioner shall examine every credit union
organized under the laws of this state to the extent and whenever and
as often as the commissioner shall deem it advisable, but in no case
less than once every two years.
(2) For purposes of this subdivision, an examination made by the
commissioner in conjunction with or with assistance from the National
Credit Union Administration or a credit union regulatory agency of
another state of the United States is deemed to be an examination
made by the commissioner.
(3) No provision of this subdivision shall be deemed to require
that the commissioner make an examination onsite at the offices of a
credit union.