(a) A corporation shall prepare annual financial statements, which may be consolidated or combined statements of the corporation and one or more of its subsidiaries or affiliates, as appropriate, that include a balance sheet as of the end of the fiscal year and statement of disbursements and receipts for that year.
(b) If annual financial statements are reported upon by a public accountant, his report must accompany them.
(P.A. 96-256, S. 157, 209.)
History: P.A. 96-256 effective January 1, 1997.