2023 New York Laws › BNK - Banking › Article 14-A - Student Loan Servicers › 722 - Examinations.

§  722.  Examinations.  1.  The superintendent may at any time, and as
  often as he or she may determine, either personally or by a person  duly
  designated  by  the superintendent, investigate the business and examine
  the books, accounts, records, and files used therein  of  every  student
  loan  servicer.  For that purpose the superintendent and his or her duly
  designated representative shall have free  access  to  the  offices  and
  places  of  business, books, accounts, papers, records, files, safes and
  vaults of all such servicers. The superintendent  and  any  person  duly
  designated  by him or her shall have authority to require the attendance
  of and to examine under oath all persons whose testimony he or  she  may
  require relative to such business.
2.  No  person  subject  to  investigation  or  examination under this
  section may knowingly withhold, abstract, remove, mutilate,  destroy  or
  secrete any books, records, computer records or other information.
3.  The  expenses  incurred in making any examination pursuant to this
  section shall be assessed against and paid by the student loan  servicer
  so examined, except that travelling and subsistence expenses so incurred
  shall  be  charged  against and paid by servicers in such proportions as
  the  superintendent  shall  deem   just   and   reasonable,   and   such
  proportionate  charges  shall  be  added  to the assessment of the other
  expenses incurred upon each examination.  Upon  written  notice  by  the
  superintendent  of  the  total  amount  of such assessment, the servicer
  shall  become  liable  for  and  shall  pay  such  assessment   to   the
  superintendent.
4.  In  any  hearing  in  which  a  department  employee  acting under
  authority of  this  chapter  is  available  for  cross-examination,  any
  official  written  report,  worksheet,  other  related  papers,  or duly
  certified copy thereof, compiled, prepared, drafted, or  otherwise  made
  by  said  department  employee,  after  being duly authenticated by said
  employee, may be admitted as competent evidence upon the  oath  of  said
  employee  that  said  worksheet,  investigative report, or other related
  documents were prepared as a result of an examination of the  books  and
  records  of  a  servicer  or  other  person,  conducted  pursuant to the
  authority of this chapter.
5. Unless it is an exempt organization, affiliates of a  student  loan
  servicer  are  subject  to examination by the superintendent on the same
  terms as the servicer, but only when reports from, or examination of,  a
  servicer  provides  evidence of unlawful activity between a servicer and
  affiliate  benefitting,  affecting,  or  arising  from  the   activities
  regulated by this article.
6. This section shall not apply to exempt organizations. To the extent
  the superintendent is authorized by any other law to make an examination
  into  the affairs of any exempt organization, this subdivision shall not
  be construed  to  limit  in  any  way  the  superintendent's  authority,
  regarding the subjects of such an examination, or otherwise.