(a) The Bank Commissioner may examine each state trust company every twenty-four (24) months or more often as he or she determines is necessary to safeguard the interests of the public and the safety and soundness of the institution.
(b) Each state-chartered trust company shall pay to the State Bank Department within ten (10) days after notice from the commissioner in January and July of each year an assessment fee to defray the costs of examination and the costs of operations of the department which will be charged in accordance with an assessment fee schedule approved by the commissioner.
(c) The commissioner may accept examinations of a state trust company by a federal or other governmental agency in lieu of an examination under this section or may conduct examinations of a state trust company jointly or concurrently with a federal or other governmental agency.
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