§ 15-12-1-38 — Disclosure of financial condition; offense

(a) If, upon receipt of a biennial report
delivered under section 37 of this chapter, the secretary of state
determines or has reason to believe that the association filing the report
is not disclosing the association's true financial condition or is violating
this chapter, the secretary of state may require the association to
disclose all material facts by:
(1) submitting a verified audit bearing the certificate under oath
of a qualified public accountant approved by the secretary of
state;
(2) replying to interrogatories; or
(3) reporting under oath on any matters requested by the secretary
of state.
(b) An officer or a director of an association who knowingly
distributes, publishes, or files with the secretary of state a written
report, certificate, or statement of the condition or business of the
association that is false in any material respect commits a Level 6
felony.
[Pre-2008 Recodification Citations: subsection (a) formerly
15-7-1-18(e); subsection (b) formerly 15-7-1-18(f).]

Legislative History

As added by P.L.2-2008, SEC.3. Amended by P.L.158-2013, SEC.206.