Section 510. Restrictions as to entries in books  


Latest version.
  • 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.