(a) A credit union shall prepare a quarterly call report, in a manner approved by the department, that states the credit union’s financial condition. The commissioner may require a credit union to file additional financial reports.
(b) The credit union must submit the call report on or before the due date prescribed by the department. If a credit union does not submit a report by the due date, the commissioner shall charge a late fee in an amount set by the commission for each day the report remains unfiled. The commissioner for good cause shown may waive all or part of the late fee.

(c) A credit union that does not file a report on or before the date it is due is subject to sanctions provided by this chapter and Chapter 126.