(a)  Without previous notice, the director may examine or investigate in a manner reasonable under the circumstances the records, within or without this state, of a broker-dealer, sales representative, investment adviser, or investment adviser representative licensed by the state or entitled to an exemption from licensing as well as any person who may be acting as a broker, dealer, sales representative, investment adviser, or investment adviser representative without a license or exemption to engage in such activity(ies) in order to determine compliance with this chapter. Broker-dealers, sales representatives, investment advisers, and investment adviser representatives must make their records available to the director in legible form.

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Terms Used In Rhode Island General Laws 7-11-211

  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6

(b)  The director may copy records or require a licensed person to copy records and provide the copies to the director to the extent and in a manner reasonable under these circumstances.

(c)  The director may impose a reasonable fee for the expense of conducting an examination or an investigation under this section.

(d)  Upon receipt of a report or complaint, the director may conduct an inspection to determine whether any violation or unlicensed activity has occurred.

History of Section.
P.L. 1990, ch. 460, § 2; P.L. 2001, ch. 190, § 1.