The department may promulgate regulations concerning the manner in which the books
of financial institutions will be maintained in order to assist the department in
its examinations and other supervisory activities, provided that, in all events:
(1) A financial institution shall enter on its books a complete and accurate account
of all of its assets, whether the assets are in its name or the name of others, at
values which shall not, without the prior approval of the department, exceed the actual
cost of the assets to the financial institution; and
(2) A financial institution shall enter on its books a complete and accurate account
of its liabilities, its borrowings, and the security interests it has granted and
shall maintain additional accounts for losses and expenses.
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