Section 970. Examination of books of loan corporations

1. Any municipal
  corporation issuing conditional  tax  receipts  shall  keep  a  complete
  record  thereof.  Any  municipal  corporation  shall  have  the right to
  examine from time to time the books of any loan corporation to which  it
  has  issued  conditional  tax  receipts  and  may  make  regulations not
  inconsistent  with  the  provisions  of  this  title  for   the   better
  accomplishment  of  the  purpose  thereof  and for the protection of the
  borrowing taxpayer.
    2. Upon proof to the municipal corporation of any willful violation of
  this title, or of the regulations made pursuant  thereto,  by  any  loan
  corporation  to  which  it has issued conditional tax receipts, it shall
  cease the issuance of conditional tax receipts to such loan corporation.