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- Article 5-A. New York Business Development Corporation
N.Y. Banking Law § 218 Supervision and Reports
Library | New York Statutes |
Edition | 2023 |
Currency | Current through 2023 NY Law Chapter 682 |
Such corporation shall be subject to the supervision, examination and control of the superintendent of financial services in the same manner as banking organizations are so supervised, examined and controlled by him pursuant to this chapter, and shall be examined by him annually, but such corporation shall not be deemed to be a banking organization nor be required to pay a fee for such an examination. Such corporation shall make an annual report of its condition to the governor, legislature and superintendent of financial services, on or before January first of each year.
Commencing January first, nineteen hundred eighty-six, such annual report shall contain but not be limited to the following:
a. information on the cost and sources of funds and capital and the total allowable maximum amount available from members, the maximum amount committed by each individual member, and the corporation's outstanding liabilities to members;
b. classification of firms in the corporation's portfolio by standard industrial code, including a breakdown of (i) size of firms by sales and number of employees, (ii) number and percentage of loans to manufacturing, service and wholesale businesses, and (iii) number and percentage of loans to traditional industries and to high technology firms within the manufacturing sector;
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