Section 362.1085 - Examination and investigation of company, procedure1. The director may designate an attorney-at-law or a certified public accountant to examine or investigate, or assist in the examination of, a family trust company.2. The director or the director's designee may examine or investigate a family trust company at any time the director deems necessary to determine if the family trust company engaged in an act prohibited under section 362.1065 or 362.1080 and, if a family trust company engaged in such act, to determine whether any other applicable law was violated.3. The director or the director's designee may examine the books and records of a foreign family trust company at any time the director deems necessary to determine if such foreign family trust company is in compliance with sections 362.1010 to 362.1117. In connection with an examination of the books and records of the trust company, the director or the director's designee may rely upon the most recent examination report, review, certification letters, or similar documentation issued by the agency supervising the foreign family trust company in the jurisdiction in which the foreign family trust company is incorporated or organized. The examination by the director or the director's designee of the books and records of a foreign family trust company shall be, to the extent practicable, limited to books and records of operations in this state.4. For each examination or investigation of a family trust company under this section, the family trust company shall pay the costs of the examination or investigation. As used in this subsection, the term "costs" means the salary of and travel expenses incurred by any individual that are directly attributable to the examination or investigation of the family trust company. The mailing of payment for costs incurred shall be postmarked within thirty days after the receipt of a notice that states the costs are due. The director may levy a late payment of up to one hundred dollars per day for each day that a payment is overdue unless waived for good cause. However, if the late payment of costs is intentional, the director may levy an administrative fine of up to one thousand dollars per day for each day the payment is overdue.5. The director may establish by rule the requirements and records necessary to demonstrate conformity with sections 362.1010 to 362.1117 by a family trust company.Amended by 2024 Mo. Laws, SB 1359,s A, eff. 8/28/2024.Added by 2017 Mo. Laws, HB 292,s A, eff. 8/28/2017.