Title 7, Chapter 1, Section 64
(a) Except as otherwise provided in subsection (b) of this Code
section, the department shall examine all financial institutions at
least once each year and may examine or investigate any financial
institution more frequently at any time it deems such action
necessary or desirable. At least once annually the examination
shall consist of a comprehensive review of the accounts, records,
and affairs of the institution.
(b) The department may, consistent with the objectives of this
chapter and the purposes listed below, alter the examination
frequency and scope as set out in subsection (a) of this Code
(1) To achieve cooperation and coordination with other state and
federal regulatory authorities including but not limited to
examination programs of banks or bank holding companies having
(2) To assure that appropriate time and attention are devoted to
the supervision of troubled financial institutions; or
(3) To minimize the examination burden on well-managed financial
institutions which have consistently been operated with safe and
sound banking practices.
(c) In the case of a financial institution which is a member of the
Federal Reserve System or whose deposits are insured by a public
body of the United States, the department may accept, in lieu of any
examination required by this Code section, examinations or reports
thereof made pursuant to the Federal Reserve Act or statutes of the
United States authorizing such insurance.
(d) Employees of the department shall not divulge any information or
provide prior notice, directly or indirectly, to any officer,
director, agent, representative, or employee of a financial
institution concerning the time or date of examination of the
financial institution except in accordance with internal policy
prescribed by the commissioner. Employees violating the policy of
the commissioner relating to information or prior notice concerning
examinations shall be subject to immediate dismissal.