§ 311 — Examination

§ 311. Examination. At least once in each calendar year the\ncorporation shall be examined by the superintendent of financial\nservices for the purpose of determining the corporation's net worth and\nthe soundness of its management and operating policies. The corporation\nshall not, however, be deemed to be a banking or insurance organization.\nThe corporation shall pay the cost of each such examination. Copies of\neach examination report, including the findings, conclusions and\nrecommendations of the examiners, shall be furnished to the corporation.\nThe corporation shall furnish copies of each report, including the\nfindings, conclusions and recommendations of the examiners, to each of\nthe holders of its capital stock and to its members. Such corporation\nshall make an annual report of its condition to the governor,\nlegislature and superintendent of financial services on or before\nJanuary first of each year.\n