(1) In the conduct of any examination or investigation under this act, the commissioner may do any of the following:

    (a) Compel the attendance of a person by subpoena.

    (b) Administer oaths.

    (c) Interrogate a person under oath concerning the business and conduct of affairs of a person subject to this act, and require the production of books, records, or papers relative to the inquiry.

    (d) Have free access during regular business hours to the offices, places of business, or other location where the licensee or registrant, or an affiliate of a licensee or registrant, maintains business related documents, and to the books, accounts, papers, records, files, documents, safes, and vaults of a licensee or registrant. The information obtained during the examination or investigation shall be confidential and shall not be available for public inspection or copying, or divulged to any person, except as provided in this section. The information may be disclosed as follows:

    (i) To the attorney general.

    (ii) To any regulatory agency.

    (iii) In connection with an enforcement action brought pursuant to this or another applicable act.

    (iv) To law enforcement officials.

    (v) To persons authorized by the Ingham county circuit court to receive the information.

    (e) Employ independent investigators to conduct a part or all of the investigation, in the case of an investigation other than an examination.

    (2) A person subpoenaed under this section who willfully refuses or willfully neglects to appear at the time and place named in the subpoena, or to produce books, accounts, records, files, or documents required by the commissioner, or who refuses to be sworn or, unless permitted by law, refuses to answer as a witness, is guilty of a misdemeanor.

    (3) Unless circumstances warrant additional examinations, the commissioner is entitled to conduct 1 examination of each licensee during the calendar year. The commissioner may conduct an investigation of a licensee or registrant against whom a complaint has been filed.