In addition to any authority allowed under this Act, the Commissioner shall have the authority to conduct investigations and examinations as follows:

(a) Authority to Access Information. For purposes of initial licensing, license renewal, license suspension, license conditioning, license revocation or termination, or general or specific inquiry or investigation to determine compliance with this Act, the Commissioner shall have the authority to access, receive and use any books, accounts, records, files, documents, information or evidence, including, but not limited to:

(1) criminal, civil and administrative history information, including non-conviction data as specified in Title 9, Guam Code Annotated, the Criminal and Correctional Code;

(2) personal history and experience information, including independent credit reports obtained from a consumer reporting agency described in Section 603(p) of the Fair Credit Reporting Act; and

COL4122017
18 Guam Code Ann. BUSINESS STRUCTURE & FUNCTION
CH. 36 MORTGAGES

(3) any other documents, information or evidence the Commissioner deems relevant to the inquiry or investigation, regardless of the location, possession, control or custody of such documents, information or evidence.

(b) Investigation, Examination, and Subpoena Authority. For the purposes of investigating violations or complaints arising under this Act, or for the purposes of examination, the Commissioner may review, investigate, or examine any licensee, individual or person subject to this Act, as often as necessary in order to carry out the purposes of this Act. The Commissioner may direct, subpoena, or order the attendance of and examine under oath all persons whose testimony may be required about the loans or the business or subject matter of any such examination or investigation, and may direct, subpoena, or order such person to produce books, accounts, records, files, and any other documents the Commissioner deems relevant to the inquiry.

(c) Availability of Books and Records. Each licensee, individual or person subject to this Act shall make available to the Commissioner upon request the books and records relating to the operations of such licensee, individual or person subject to this Act. The Commissioner shall have access to such books and records, and interview the officers, principals, mortgage loan originators, employees, independent contractors, agents, and customers of the licensee, individual or person subject to this Act concerning their business.

(d) Reports and Other Information as Directed. Each licensee, individual or person subject to this Act shall make or compile reports or prepare other information as directed by the Commissioner in order to carry out the purposes of this Section, including, but not limited to:

(1) accounting compilations;

(2) information lists and data concerning loan transactions in a format prescribed by the Commissioner; or

(3) such other information deemed necessary to carry out the purposes of this Section.

(e) Control Access to Records. In making any examination or investigation authorized by this Act, the Commissioner may control access to any documents and records of the licensee or person under examination or investigation. The Commissioner may take possession

COL4122017
18 Guam Code Ann. BUSINESS STRUCTURE & FUNCTION
CH. 36 MORTGAGES

of the documents and records or place a person in exclusive charge of the documents and records in the place where they are usually kept.

(1) During the period of control, no individual or person shall remove or attempt to remove any of the documents and records except pursuant to a court order or with the consent of the Commissioner.

(2) Unless the Commissioner has reasonable grounds to believe the documents or records of the licensee have been, or are at risk of being altered or destroyed for purposes of concealing a violation of this Act, the licensee or owner of the documents and records shall have access to the documents or records as necessary to conduct its ordinary business affairs.

(f) Additional Authority. In order to carry out the purposes of this Section, the Commissioner may:

(1) retain attorneys, accountants, or other professionals and specialists as examiners, auditors, or investigators to conduct or assist in the conduct of examinations or investigations;

(2) enter into agreements or relationships with other government officials or regulatory associations in order to improve efficiencies and reduce regulatory burden by sharing resources, standardized or uniform methods or procedures, and documents, records, information or evidence obtained under this Section;

(3) use, hire, contract or employ public or privately available analytical systems, methods or software to examine or investigate the licensee, individual or person subject to this Act;

(4) accept and rely on examination or investigation reports made by other government officials within or without Guam; or

(5) accept audit reports made by an independent certified public accountant for the licensee, individual or person subject to this Act in the course of that part of the examination covering the same general subject matter as the audit and may incorporate the audit report in the report of the examination, report of investigation or other writing of the Commissioner.

(g) Effect of Authority. The authority of this Section shall remain in effect, whether such a licensee, individual or person subject to this Act acts or claims to act under any licensing or registration law

COL4122017
18 Guam Code Ann. BUSINESS STRUCTURE & FUNCTION
CH. 36 MORTGAGES

of Guam, or claims to act without such authority.

(h) Withhold Records. No licensee, individual or 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.

2017 NOTE: Subitem designations added pursuant to the authority of 1 Guam Code Ann. § 1606.