Section 20. Every such corporation shall be required to make an annual report to the commissioner of any loan or extension of credit in any manner (i) to any officer, director, trustee or principal shareholder thereof, (ii) to any officer, director or principal shareholder of a bank holding company, as defined in chapter one hundred and sixty-seven A, of which said corporation is a subsidiary, and (iii) to any officer, director, trustee or principal shareholder of any other subsidiary of said bank holding company. Said corporation shall also be required to make an annual report to the commissioner of any loan or extension of credit in any manner to a company which is controlled by any such officer, director, trustee or principal shareholder of said corporation, bank holding company or other subsidiary or in which any such person is a principal shareholder. For the purposes of this section, the terms “company”, “control of a company” and “principal shareholder” shall have the same meanings given in Regulation O of the Board of Governors of the Federal Reserve System, 12 C.F.R. Part 215.2.
The report to the commissioner shall consist of, but not be limited to, the following: (1) the name of the officer as defined in section 19, director, trustee or principal shareholder of said corporation, bank holding company or other subsidiary to whom any such loan or extension of credit has been given or the name of such company to which such loan or extension of credit has been made, (2) the original amount of the loan and the interest rate thereon, (3) the date of the loan, (4) the type of loan, (5) if the loan is secured in any manner, the type of secured asset and its valuation, (6) the terms of the payment, (7) the current balance, and (8) the amount of principal or interest payments in default, if any, and the length of the default. The report shall be considered a public record in accordance with section 10 of chapter 66.