§ 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.