Page:1959 North Dakota Session Laws.pdf/247

DEBTOR AND CREDITOR court may deem reasonably necessary to prevent violations of this Act or to protect the rights of borrowers. Such receiver, when appointed and qualified, shall have such powers and duties as to custody, collection, administration, winding up , and liquidation of such property and business as shall from time to time be conferred upon him by the court.

§ 10. Books and Records; Annual Reports.) (a) Each licensee shall keep and use in his business such books and accounting records as are in accord with sound and accepted accounting practices and as may be prescribed by the state examiner. Such licensee shall preserve such books and accounting records for at least two years after making the final entry on any loan recorded therein.

(b) Each licensee shall annually on or before the fifteenth day of September file a report for the preceding fiscal year with the state examiner. Such report shall give information with respect to the financial condition of such licensee and shall include: the name and address of the licensee, balance sheets at the beginning and end of the accounting period; a statement of income and expenses for said period, a reconciliation of surplus or net earnings with the balance sheets; a schedule of assets used and useful in the small loan business; an analysis of charges, size of loans and types of security on loans of one thousand dollars or less; an analysis of delinquent accounts, an analysis of suits, repossessions and sales of chattels and such other relevant information as the state examiner may require concerning the business and operations during the preceding fiscal year. Such report shall be made under oath and shall be in the form prescribed by the state examiner who shall make and publish annually an analysis and recapitulation of such reports.

§ 11. Regulations and Orders; Certified Copies of Official Documents.) (a) The state examiner shall have power and authority to promulgate in accordance with chapter 28-32 of the North Dakota Revised Code of 1943 as it may be amended, such rules and regulations as may be reasonably necessary to carry out the provisions of this Act.

(b) On application of any person and payment of the costs thereof, the state examiner shall furnish a certified copy of any license, regulation, or order.

§ 12. Advertising.) No licensee or other person subject to this Act shall advertise, display, distribute, broadcast, or televise any false, misleading, or deceptive statement or representation with regard to the rates, terms or conditions for loans, or cause or permit the same to be done.

§ 13. Other Business in the Same Office; Business Confined to Licensed Office.) (a) No business involving the sale of