Sec. 12.3. Annual report

Each bank or trust company availing itself of the limited authorization provided in section 12.2 of this Part shall, within one year of the initial acquisition or lease of such property and annually thereafter, as to properties or leases held on the date of such report, provide to the superintendent a list of:

(a) all property purchased or leased under the limited authorization of section 12.2 of this Part which shall, with respect to each such acquisition or lease, include the following:

(1) address of the residence or similar facility;

(2) type of acquisition (e.g., lease or purchase);

(3) reason for acquisition of such real property;

(4) date of purchase of such real property, or date of commencement of the lease and date of its expiration, including description of any renewal rights;

(5) cost of purchase or rental; description of any sale-back, cancellation or similar clauses;

(6) a written assurance in accordance with section 12.2(c) of this Part; and

(7) such additional information or submit such documents, as the superintendent may require;

(b) all property purchased or leased with specific superintendent approval under section 98(1)(d) of the Banking Law; and

(c) all property purchased or leased with specific approval of the superintendent prior to October 15, 1981.