§ 597 — Books and records; reports and electronic filing

§ 597. Books and records; reports and electronic filing. Each\nlicensee, servicer, registrant and exempt organization shall keep and\nuse in its business such books, accounts and records as will enable the\nsuperintendent to determine whether such licensee, servicer, registrant\nor exempt organization is complying with the provisions of this article\nand with the rules and regulations lawfully made by the superintendent\nand the superintendent of financial services. Every licensee, servicer,\nregistrant and exempt organization shall preserve such books, accounts,\nand records, for at least three years; provided, however, that\npreservation by photographic reproduction thereof or records in\nphotographic form, including an optical disk storage system and the use\nof electronic data processing equipment that provides comparable records\nto those otherwise required and which are available for examination upon\nrequest shall constitute compliance with the requirements of this\nsection.\n Each licensee and registrant shall annually, on or before a date to be\ndetermined by the superintendent, file a report with the superintendent\ngiving such information as the superintendent may require concerning the\nbusiness and operations during the preceding calendar year of such\nlicensee or registrant under authority of this article. Such report\nshall be subscribed and affirmed as true by the licensee or registrant\nunder the penalties of perjury and shall be in the form prescribed by\nthe superintendent. In addition to annual reports, the superintendent\nmay require such additional regular or special reports as he or she may\ndeem necessary to the proper supervision of licensees and registrants\nunder this article. Such additional reports shall be in the form\nprescribed by the superintendent and shall be subscribed and affirmed as\ntrue under the penalties of perjury.\n Notwithstanding article three of the state technology law or any other\nlaw to the contrary, the superintendent may require that any application\nfor, or renewal of, any license or registration or any other submission\nor approval as may be required by the superintendent be made or executed\nby electronic means if he or she deems it necessary to ensure the\nefficient administration of this article.\n The superintendent may require servicers to file annual reports or\nother regular or special reports, including reports with respect to\nmortgage delinquencies and foreclosures. Such reports shall be in the\nform prescribed by the superintendent and shall be subscribed and\naffirmed as true under the penalties of perjury.\n