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Code · New York · Banking · No title

§ 510. Restrictions as to entries in books.

135 words·~1 min read·/ny/banking/no-title/510

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§ 510. Restrictions as to entries in books. 1. No investment company
shall by any system of accounting or any device of bookkeeping, directly
or indirectly enter any of its assets upon its books in the name of any
other individual, partnership, unincorporated association or
corporation, or under any title or designation that is not truly
descriptive thereof.
2. Every investment company shall conform its methods of keeping its
books and records to such orders in respect thereto as shall have been
made and promulgated by the superintendent pursuant to the provisions of
article two of this chapter. Any investment company that refuses or
neglects to obey such order shall be subject to a penalty in an amount
as determined pursuant to section forty-four of this chapter for each
day it so refuses or neglects.
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