LAC 7:V.317. Requirements Subsequent to Disbursement of Loan Proceeds

A. Each year, on the anniversary of the disbursement of loan proceeds, each recipient of a loan or a loan guaranty shall provide the following: 1. a listing of all stockholders, with the number of shares held by each, at any time during the previous year; 2. a current statement of its operations, including an analysis of profits and losses; 3. a statement of financial condition, including but not limited to a balance sheet and profit and loss statement for the most recently completed fiscal year; 4. a current personal financial statement of all principals who have endorsed the note or are liable for repayment of the loan or any part thereof. B. Each recipient of a loan guaranty shall authorize the lender holding the loan record to file quarterly statements with the market commission showing the principal balance remaining outstanding and any defaults in payment.