7-3-34. Contents of examination report of board of directors -- Failure to make
and file report as misdemeanor.
The report required by Subsection 7-3-33(3) shall contain a statement of the assets and
liabilities of the bank as shown by its books, and any deductions for the assets or additions to the
liabilities which the directors, an examining committee, or examiner after the examination, may
recommend. It shall also contain a detailed statement of loans, if any, which in their opinion are
worthless or doubtful, together with their reasons for so regarding them, also a statement of loans
made on collateral security which in their opinion are insufficiently secured, giving in each case
the amount of the loan, the name and market value of the collateral, if it has any market value,
and, if without market value, a statement of that fact and its actual value as near as it is possible
to ascertain. The report shall also contain a statement of overdrafts with the names of the persons
owing the same and the amounts of those they consider worthless or doubtful, and a full statement
of other matters which affect the solvency and soundness of the bank. If the directors of any bank
wilfully fail to make and file, or cause to be made and filed, the examination and report in the
manner and within the time specified, each director of the bank shall be guilty of a class C
misdemeanor.
Enacted by Chapter 16, 1981 General Session
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Last revised: Thursday, May 28, 2009