(a) Control access to records.

1. (1) In making any examination authorized by the Fair Mortgage Lending Act, Arkansas Code § 23-39-501 et seq., the Securities Commissioner may control access to any documents and records of the licensee or person under examination.

2. (2) The commissioner may:

   1. (A) Take possession of the documents and records; or
   2. (B) Place a person in exclusive charge of the documents and records in the place where they are usually kept.

3. (3) During the period of control, no individual or person shall remove or attempt to remove any of the documents and records except:

   1. (A) Pursuant to a court order; or
   2. (B) With the consent of the commissioner.
4. (4) 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.

(b) In order to carry out the purposes of this section, the commissioner may:

1. (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. (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. (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 the act;
4. (4) Accept and rely on examination or investigation reports made by other government officials, within or without this state; or
5. (5) Accept audit reports made by an independent certified public accountant for the licensee or person subject to this act.