2023 New Hampshire Revised Statutes › Title XXXVI - Pawnbrokers and Moneylenders › Chapter 399-D - Debt Adjustment Services › Section 399-D:12 - Examinations and Investigations.

399-D:12 Examinations and Investigations. –
I. The commissioner or the commissioner's duly authorized representative shall, in accordance with RSA 383:9 and, with or without notice to the licensee or person, examine the business affairs of any licensee or any other person subject to this chapter, whether licensed or not, or more often when necessary, as the commissioner deems necessary to determine compliance with this chapter, the rules adopted pursuant to it and any federal acts and regulations to which it is subject, including the Consumer Credit Protection Act, 15 U.S.C. section 1601, et seq., as amended. In determining compliance, the commissioner or the duly authorized representative may examine the books, accounts, records, files, and other documents, whether electronically stored or otherwise, and any other matters of any licensee or person. The commissioner or the duly authorized representative shall have and be given free access to the office and places of business, files, safes, and vaults of all such persons, and may require the attendance of any person to examine him or her under oath relative to such debt adjustment activity or such business or to the subject matter of any examination or investigation and may require the production of books, records, files, accounts, and papers of such persons.
II. The commissioner may, in his or her discretion, accept all or part of a report of examination of a debt adjuster, certified to by the regulatory supervisory official of another state. To avoid unnecessary duplication of examinations, the commissioner, insofar as he or she deems it practicable in administering this section, may cooperate with the regulators of other states, the Federal Trade Commission, other federal regulators, or their successors in conducting examinations and investigations.
III. The department may subpoena witnesses and administer oaths and compel, by subpoena duces tecum, the production of all books, records, files, and other documents and materials whether electronically stored or otherwise relevant to its investigation at any time in any matter over which the department has jurisdiction, control, or supervision pertaining to the provisions of this chapter.
IV. Every person being examined, and all of the officers, directors, employees, agents, and representatives of such person shall make freely available to the commissioner or the commissioner's examiners the accounts, records, documents, files, information, assets, and matters in their possession or control relating to the subject of the examination and shall facilitate the examination.
V. The expense of such examination shall be chargeable to and paid by the licensee or person being examined. The payment shall be calculated by the same method as for payments by institutions for the cost of examinations under RSA 383:11.
VI. (a) Those licensees or persons, including those that maintain their files and business documents in another state shall :
(1) Deliver to the commissioner a list of all New Hampshire consumers who have contracted with the licensee or with whom the licensee is otherwise engaged in business regulated under this chapter, and other requested lists summarizing the business of the licensee, within 7 days of receipt of the request; and
(2) Deliver to the commissioner files selected by the commissioner from the list delivered in subparagraph (a)(1), and any other files or documents requested, within 21 days of receipt of the request.
(b) Failure to provide files or documents within the time established by this paragraph shall subject a licensee or person to a fine of $50 per day for each day that the files or documents are not produced. Failure to provide files or documents within 60 days after receipt of the request shall be sufficient cause for license revocation, suspension, or denial, or other penalties under this chapter.
VII. The commissioner or the commissioner's duly authorized representative may investigate at any time any person that the commissioner reasonably believes is engaged in the business of debt adjustment, or is participating in such business as principal, agent, broker, or otherwise, or any person who the commissioner has reasonable cause to believe is violating or is about to violate any provision of this chapter, or any rule or order under this chapter, whether such person shall claim to be within the authority or beyond the scope of this chapter.
VIII. In any investigation to determine whether any person has violated or is about to violate this chapter or any rule or order under this chapter, upon the commissioner's finding that the person violated this chapter or a rule or order under this chapter, or the person charged with the violation defaults, the commissioner may recover the cost of the investigation, in addition to any other penalty provided for under this chapter.
IX. If the commissioner or examiner finds any accounts or records to be inadequate, or kept or posted in a manner not in accordance with generally accepted accounting principles, the commissioner may employ experts to reconstruct, rewrite, post, or balance them at the expense of the person being examined if such person has failed to maintain, complete, or correct such records or accounting after the commissioner or examiner has given him or her written notice and a reasonable opportunity to do so.
X. (a) Upon receipt of a written report of examination, the licensee shall have 30 days or such additional reasonable period as the commissioner for good cause may allow, within which to review the report, recommend any changes, and set forth in writing the remedial course of action the licensee will pursue to correct any reported deficiencies outlined in the report.
(b) If so requested by the person examined, within the period allowed in subparagraph (a), or if deemed advisable by the commissioner without such request, the commissioner shall hold a closed hearing relative to the report and shall not file the report in the department until after such closed hearing and issuance of his or her order thereon. If no such closed hearing has been requested or held, the examination report, with such modifications, if any, thereto as the commissioner deems proper, shall be accepted by the commissioner and filed upon expiration of the review period provided for in subparagraph (a). The report shall in any event be so accepted and filed within 6 months after final hearing thereon.
XI. All reports pursuant to this section shall be confidential and shall not be available for public inspection. The comments and recommendations of the examiner shall also be confidential information and shall not be available for public inspection.
XII. The commissioner may share information with state and federal regulators, and may share information with law enforcement agencies for the purposes of criminal investigations.
Source.
2016, 151:1, eff. Jan. 1, 2017. 2019, 168:18, eff. Sept. 8, 2019. 2021, 51:4, eff. July 24, 2021.