§ 228-f. Reports. 1. The investment companies shall make an annual
report of their conditions to the governor, the legislature and the
superintendent of financial services, on or before January first of each
year.

2. Commencing January first, nineteen hundred ninety-five, such annual
report shall contain but not be limited to the following:

(a) information on the cost and source of funds and capital and the
total allowable amount available from the voting shareholders, and the
maximum amount committed by each individual voting shareholder;

(b) classification of the businesses in the investment companies'
portfolio by standard industrial code;

(c) information on the types of financing provided by the investment
companies, including start-up, venture, operating or working capital
loans, the size and term of loans, and a breakdown of investments by
senior debt, subordinated debt and equity financing;

(d) information on interest rates of loans, including the percentage
of fixed and variable rate loans;

(e) information on how the NYSBIC is fulfilling its mission to provide
small businesses with credit assistance, particularly where general
economic and historical conditions have prevented traditional capital
sources from extending credit to such small business;

(f) information on how the NYSSBIC is fulfilling its mission to
provide credit assistance to facilitate small business ownership by
minorities, persons who reside in highly distressed area and
neighborhood based alliance communities and persons eligible for the
earned income credit as provided by paragraph (b) of subdivision one of
section two hundred twenty-eight-c of this article;

(g) information on resources and actions taken to advance the
investment companies' marketing programs, including their coordination
and efforts to solicit the assistance of local bankers and local
economic development corporations, the state department of economic
development, the job development authority, the urban development
corporation, the science and technology foundation, the state university
of New York small business development centers, the centers for advanced
technology and other New York state agencies and organizations the
investment companies deem appropriate.