N.Y. Banking Law § 717: Books and records; reports and electronic filing

§ 717. Books and records; reports and electronic filing. 1. Each

student loan servicer shall keep and use in its business such books,

accounts and records as will enable the superintendent to determine

whether such servicer or exempt organization is complying with the

provisions of this article and with the rules and regulations lawfully

made by the superintendent. Every servicer shall preserve such books,

accounts, and records, for at least three years.

2. (a) Each student loan servicer, other than an exempt organization,

shall annually, on or before a date to be determined by the

superintendent, file a report with the superintendent giving such

information as the superintendent may require concerning the business

and operations during the preceding calendar year of such servicer under

authority of this article. Such report shall be subscribed and affirmed

as true by the servicer under the penalties of perjury and shall be in

the form prescribed by the superintendent.

(b) In addition to annual reports, the superintendent may require such

additional regular or special reports as he or she may deem necessary to

the proper supervision of student loan servicers under this article.

Such additional reports shall be subscribed and affirmed as true by the

servicer under the penalties of perjury and shall be in the form

prescribed by the superintendent.

3. Notwithstanding article three of the state technology law or any

other law to the contrary, the superintendent may require that any

submission or approval as may be required by the superintendent be made

or executed by electronic means if he or she deems it necessary to

ensure the efficient administration of this article.