§ 17-16-1620 — Financial statements for shareholders

Wyoming § 17-16-1620

• Jurisdiction: Wyoming
• Title 17: Corporations, Partnerships and Associations
• Ch. 16: WYOMING BUSINESS CORPORATION ACT
• Art. 16: RECORDS AND REPORTS

Text

(a) A corporation shall furnish, upon request, to its
shareholders annual financial statements, which may be
consolidated or combined statements of the corporation and one
(1) or more of its subsidiaries, as appropriate, that include a
balance sheet as of the end of the fiscal year, an income
statement for that year, and a statement of changes in
shareholders' equity for the year unless that information
appears elsewhere in the financial statements. If financial
statements are prepared for the corporation on the basis of
generally accepted accounting principles, the annual financial
statements shall also be prepared on that basis. If detailed
financial statements are not prepared for the corporation on an
annual basis, then a copy of its federal income tax return will
satisfy the requirements of this section.
(b) If the annual financial statements are reported upon
by a public accountant, his report shall accompany them. If
not, the statements shall be accompanied by a statement of the
president or the person responsible for the corporation's
accounting records:
(i) Stating his reasonable belief whether the
statements were prepared on the basis of generally accepted
accounting principles and, if not, describing the basis of
preparation; and
(ii) Describing any respects in which the statements
were not prepared on a basis of accounting consistent with the
statements prepared for the preceding year.
(c) A corporation shall mail, upon request, the annual
financial statements to each shareholder within one hundred
twenty (120) days after the close of each fiscal year.
Thereafter, on written request from a shareholder who was not
mailed the statements, the corporation shall mail the
shareholder the latest financial statements.