Examination of Accounts

The corporation shall be examined at least once annually by the Director of Revenue and Taxation and shall make reports of its condition not less than annually to said Director of Revenue and Taxation and more frequently upon call of the Director of Revenue and Taxation, who in turn shall make copies of such reports available to the territorial Commissioner of Banking and Insurance and the Governor; and the corporation shall also furnish such other information as may from time to time be required by the Governor and Lieutenant Governor of Guam. The corporation shall pay the actual cost of said examinations. The Director of Revenue and Taxation shall exercise the same power and authority over corporations organized under this Chapter as is now exercised over banks and trust companies by the provisions of the Guam banking code, where such banking code is not in COL 03072011 CH. 12 INDUSTRIAL D EVELOPMENT CORPORATIONS conflict with this Chapter.