Delaware Code Title 5 Sec. 3220 – Supervision and examination of business by the Commissioner
(a) Every person or combination of persons licensed as a transporter under this chapter shall be subject to the supervision and examination of the State Bank Commissioner and shall be examined by the Commissioner or the Commissioner’s authorized representative annually or at such intervals as the Commissioner deems necessary.
Terms Used In Delaware Code Title 5 Sec. 3220
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
- United States: includes its territories and possessions and the District of Columbia. See Delaware Code Title 1 Sec. 302
- Year: means a calendar year, and is equivalent to the words "year of our Lord. See Delaware Code Title 1 Sec. 302
(b) On the occasion of every examination, the Commissioner or the Commissioner’s authorized representative shall be given free access to the licensee’s books and records.
(c) The examination made by the Commissioner, or the Commissioner’s authorized representatives, shall be a thorough examination into the compliance or noncompliance with this Code or any regulations promulgated thereunder, and any other statutes or regulations of this State or the United States; in addition, such examination shall include a review of the licensee’s business practices and such other matters, as in the judgment of the Commissioner, may have relation to the security of property of the licensee’s customers. In connection with such examination, the Commissioner may examine, under oath or affirmation, any and all persons connected with the licensee.
(d) Each licensee shall submit to the Commissioner on or before January 1 of each year financial statements for the licensee’s most recently available completed fiscal year which have been audited by a certified public accountant, including the report of the certified public accountant thereon.
68 Del. Laws, c. 113, § ?2; 70 Del. Laws, c. 186, § ?1; 77 Del. Laws, c. 126, § ?10;