Sec. 50.1. Examinations

The superintendent shall have the power to examine every mutual trust investment company at any time prior to its dissolution whenever in his judgment such examination is necessary or advisable. He shall at least once in each calendar year, upon such date or dates within each such period as in his discretion he deems proper, cause every such mutual trust investment company to be examined. On every such examination of any mutual trust investment company, inquiry shall be made as to:

(a) its financial condition;

(b) the policies of its management;

(c) whether the requirements of law and these regulations have been complied with in the administration of its affairs; and

(d) such other matters as the superintendent may prescribe.

For the purpose of conducting such examination of a mutual trust investment company, the superintendent shall have the power to examine relevant books, records, accounts and documents held or maintained by any custodian for the account of the mutual trust investment company or any other person, firm or corporation which shall render managerial, investment, advisory, statistical or other services to the mutual trust investment company. All reports of examinations and investigations, including any duly authenticated copy or copies thereof in the possession of the mutual trust investment company, shall be confidential communications, shall not be subject to subpoena, and shall not be made public unless in the judgment of the superintendent the ends of justice and the public advantage will be subserved by the publication thereof, in which event he may publish a copy of any such report or any part thereof in such manner as he may deem proper.