2012 Idaho Statutes
Title 26 - BANKS AND BANKING
Chapter 27 - BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS
Section 26-2706 - REQUIRED RECORDKEEPING -- INDEPENDENT AUDIT -- APPLICATION TO OUTSIDE RECORDKEEPERS -- REPORT REQUIRED.
(2) The director may require by order that a licensee write down any asset on its books and records to a valuation which represents its then value. In addition, the director may require an appraisal of any assets of a licensee by an independent appraiser approved by the director.
(3) The director may require a licensee to file with the director, not more than ninety (90) days after the close of each calendar year or a longer period if specified by the director, an audit report containing all of the following:
(4) If a person other than a licensee makes or keeps the books, accounts, or other records of that licensee, this chapter applies to that person with respect to the performance of those services and with respect to those books, accounts, and other records to the same extent as if that person were the licensee.
(5) If a person other than an affiliate or subsidiary of a licensee makes or keeps any of the books, accounts, or other records of that affiliate or subsidiary, this chapter applies to that person with respect to those books, accounts, and other records to the same extent as if that person were the affiliate or subsidiary.
(6) If the director considers it expedient, the director may require any particular licensee to obtain the approval of the director before permitting another person to make or keep any of the books, accounts, or other records of the licensee.
(7) Each licensee, each affiliate of a licensee, and each subsidiary of a licensee shall file with the director such reports as and when the director may require. A report shall be in such a form and shall contain such information as the director may require.
History:
[26-2706, added 1989, ch. 252, sec. 1, p. 606; am. 2001, ch. 86, sec. 1, p. 221.]
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