Initiation of Examination

Initiation of Examination. The Treasurer may conduct an examination, at her discretion, in accordance with the Act and this regulation. If any person refuses to permit an examination, as required under the provisions of the Act, and this regulation, the Treasurer shall bring an action in a court of appropriate jurisdiction to compel compliance with such examination. A. Events that prompt an examination may include, but not be limited to: 1. Failure to report; 2. Failure to report property types normally reported by like holders; 3. Amounts reported and/or remitted are not comparable to reports received from like holders; 4. Failure to substantiate differences between reported property and remitted property; or 5. Errors identified during previous audits. B. Excluding any state-authorized multi-state unclaimed property audit/examination, all examinations undertaken by the Treasurer shall be conducted in the following order of priority, unless otherwise directed by the Treasurer: 1. First Priority. Holders who have never reported unclaimed property to the Division. 2. Second Priority. Holders who have previously reported unclaimed property to the Division, but who have not recently filed a report. 3. Third Priority. Holders whose current reporting levels appear deficient. C. Performance of an examination does not preclude the Treasurer from performing any subsequent examination.