§ 23-17-27-6 — Annual financial statements; furnishing to members

(a) Except as provided in articles of
incorporation or bylaws of a religious corporation, a corporation upon
written demand from a member shall furnish the member the
corporation's latest annual financial statements, which may be
consolidated or combined statements of the corporation and the
corporation's subsidiaries or affiliates, as appropriate, that include a
balance sheet as of the end of the fiscal year and statement of
operations for that year. If financial statements are prepared for the
corporation on the basis of generally accepted accounting principles,
the annual financial statements must also be prepared on that basis.
(b) If annual financial statements are reported upon by a certified
public accountant, the accountant's report must accompany the
statements. If annual financial statements are not reported upon by a
certified public accountant, the statements must be accompanied by the
statement of the president or the person responsible for the
corporation's financial accounting records that does the following:
(1) States the president's or other person's reasonable belief as to
whether the statements were prepared on the basis of generally
accepted accounting principles and, if not, describes the basis of
preparation.
(2) Describes any respects in which the statements were not
prepared on a basis of accounting consistent with the statements
prepared for the preceding year.

Legislative History

As added by P.L.179-1991, SEC.1.