§ 4405. Examinations; conduct. (a) Whenever, pursuant to this article,\nthe superintendent shall determine to examine the affairs of any\nemployee welfare fund he shall make an order indicating the scope of the\nexamination and may appoint as examiners one or more competent persons\nnot employed by the trustees of such fund or interested in such fund. A\ncopy of such order shall, upon demand and before the examination begins,\nbe exhibited to the trustees of such fund.\n (b) Any examiner authorized by the superintendent shall have\nconvenient access at all reasonable hours to the books, records, files,\nassets, securities, and other documents of such fund, including those of\nany affiliated or subsidiary fund thereof, which are relevant to the\nexamination, and shall have power to administer oaths and to examine\nunder oath the trustees of such fund and their officers, agents and\nemployees and any other persons having custody or control of such books,\nrecords, files, assets, securities or other documents, regarding any\nmatter relevant to the examination.\n (c) The examiner in charge of such examination shall make a report of\nevery examination made by him, verified under oath, which shall comprise\nonly facts appearing upon the books, records or other documents of the\ntrustees of such fund or as ascertained from the sworn testimony of its\ntrustees, or their officers, agents or employees, or other persons\nexamined concerning its affairs, and such conclusions and\nrecommendations as may reasonably be warranted from such facts.\n (d) The superintendent may appoint one or more competent persons as\nappraisers to appraise any interest in real property which may\nconstitute assets of any such fund. The report of such appraiser shall\nbe a supplement to the report of the examiner in charge.\n
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