7-1-315 - Examination by board of directors required -- Report.
7-1-315. Examination by board of directors required -- Report.
The commissioner may at any time require the board of directors of any or all institutionsunder his jurisdiction to fully examine or have fully examined the books, papers, and affairs ofthe institution of which they are directors and particularly the loans, discounts, and overdrafts ofsuch institutions to ascertain the value and security thereof and the collateral security, if any,given in connection therewith and to inquire into such other matters as the commissioner mayconsider necessary and to have a report placed on file with the records of the institution, whichreport shall be subject to examination by the commissioner.
Enacted by Chapter 16, 1981 General Session