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This entry was published on 2014-09-22
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SECTION 218
Supervision and reports
Banking (BNK) CHAPTER 2, ARTICLE 5-A
§ 218. Supervision and reports. 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;

c. information on the types of financing provided by the corporation,
including guaranteed loans, the size and term of loans, and a breakdown
of investments by senior debt, subordinated debt and equity financings;

d. information on interest rates of loans, including percentage of
fixed rate and variable rate loans;

e. information on the use of capital provided by the corporation,
including number of working capital loans, loans to assist leveraged
buyouts by employees, management or others, and secured mortgages for
plant expansion or new production facilities;

f. information on how the corporation is fulfilling its mission to
assist women and minority owned businesses;

g. information on resources and actions taken to advance the
corporation's marketing program;

h. information on the corporation's regional offices, including a
description of the volume of business and the nature of loan activity at
each office;

i. information on the activities of the corporation's MESBIC; and

j. information on the corporation's pilot export financing program,
including the number of firms serviced and the types of assistance
provided.