N.Y. Banking Law § 397-a: Report to directors

§ 397-a. Report to directors. The board of directors of every savings

and loan association shall designate, by resolution duly recorded in the

minutes, an officer or officers whose duty it shall be to prepare and

submit to each director present at a regular meeting of the board or to

each member of an executive committee of not less than five members of

such board present at a regular meeting of such committee, a written

report containing such information and meeting such requirements as are

required in the case of reports submitted to the trustees of savings

banks pursuant to section two hundred fifty-two of this chapter and such

regulations as the superintendent may promulgate thereunder or

hereunder. A copy of such report, verified by the affidavit of the

officer or officers charged with the duty of preparing and submitting

such report, together with a list of the directors present at such

meeting, shall be filed with the records of the savings and loan

association within one day after such meeting, and shall be presumptive

evidence of the matters therein stated. The superintendent, by

regulation, may require the preparation and submission of such a report

to directors at dates other than those required herein.