N.Y. Banking Law § 474: Loan reports to directors

§ 474. Loan reports to directors. 1. The credit committee shall

prepare and submit written reports to the board of directors of all

loans approved or disapproved. If there is no credit committee, the

board of directors shall designate, by resolution, a loan officer or

officers whose duty it shall be to prepare and submit such written

reports to the board.

2. These written reports shall be submitted to the board of directors

at every regular monthly meeting of the board. Such written reports

shall include a detailed description of any collateral securing these

loans.

3. The superintendent may promulgate regulations relating to the

provisions of these loan reports.