Section 16
SEC. 16. It shall be the duty of the board of directors, or in default thereof, of the manager, of any mercantile bank, mortgage and savings bank, credit corporation, and banking institution of any kind, to order an audit, for its information, of its banking accounts and business by a certified public accountant at least once per annum, and to submit a full certified copy of the audit of said accountant to the Insular Treasurer.