Sec. 36a-631. Books and records. Annual financial reports.
Sec. 36a-631. Books and records. Annual financial reports. (a) Each licensee
shall make and keep such books, accounts and other records in such form and in such
manner as the commissioner may by regulation or order require. All records so required
shall be kept at such place and shall be preserved for such time as the commissioner
may by regulation or order specify.
(b) Each licensee shall, not more than ninety days after the close of each of its fiscal
years or within such longer period as the commissioner may by regulation specify, file
with the commissioner an annual report containing:
(1) A financial statement, including balance sheet, statement of income or loss,
statement of changes in capital accounts and statement of changes in financial position,
for or as of the end of such fiscal year, prepared with an audit by an independent certified
public accountant in accordance with generally accepted accounting principles;
(2) A report, certificate or opinion of such independent certified public accountant,
stating that such financial statements were prepared in accordance with generally accepted accounting principles;
(3) A report as to (A) the number and aggregate dollar amount of loans made by
such licensee during such fiscal year; (B) the geographic distribution, by census tract,
of the borrowers that received such loans; (C) the percentage of such loans that were
made in the principal amount of fifty thousand dollars or less; (D) the percentage of such
loans that were made to minority or women-owned businesses; (E) the dollar amount of
the licensee's loan portfolio as of the end of such fiscal year; (F) the percentage amount
of the licensee's loan portfolio that represents loans for which scheduled loan payments
were more than ninety days past due as of the end of such fiscal year; (G) the number
and dollar amount of loans in liquidation as of the end of such fiscal year; and (H) a
summary of the licensee's policies and performance with regard to management assistance provided to small business firms during such fiscal year; and
(4) Such other information as the commissioner may require.
(P.A. 93-382, S. 62, 69.)
History: P.A. 93-382 effective July 1, 1993 (Revisor's note: In Subsec. (b)(3)(D) the reference to "woman-owned
businesses" was changed editorially by the Revisors to "women-owned businesses" for consistency with other statutory
references).