2013 New York Consolidated Laws
PVH - Private Housing Finance
Article 7 - (300 - 313) MORTGAGE FACILITIES CORPORATION
311 - Examination.

 
    §   311.  Examination.  At  least  once  in  each  calendar  year  the
  corporation  shall  be  examined  by  the  superintendent  of  financial
  services  for the purpose of determining the corporation's net worth and
  the soundness of its management and operating policies. The  corporation
  shall not, however, be deemed to be a banking or insurance organization.
  The  corporation  shall pay the cost of each such examination. Copies of
  each  examination  report,  including  the  findings,  conclusions   and
  recommendations of the examiners, shall be furnished to the corporation.
  The  corporation  shall  furnish  copies  of  each report, including the
  findings, conclusions and recommendations of the examiners, to  each  of
  the  holders  of  its capital stock and to its members. 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.