§ 18408 Industrial Loan Reporting Requirements

• •Industrial loan companies must give special reports to the commissioner when asked.
• •The commissioner can ask for these reports anytime they want.
• •The law was changed in 1976 to say this.

A bank that gives loans to businesses gets a letter from the commissioner asking for a report on all the loans they gave out last month.

The bank must send the report to the commissioner because the law says they have to when asked.