Kentucky Statutes 247.957 – Corporate system of accounts — Audit
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(1) Subject to the provisions of any contract with the holders of its bonds, the corporation shall establish a system of accounts.
(2) The corporation may cause an independent audit of its books and accounts to be prepared annually and the cost thereof may be paid from any available moneys of the corporation.
Effective: July 13, 1990
History: Created 1990 Ky. Acts ch. 440, sec. 10, effective July 13, 1990.
(2) The corporation may cause an independent audit of its books and accounts to be prepared annually and the cost thereof may be paid from any available moneys of the corporation.
Terms Used In Kentucky Statutes 247.957
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: may extend and be applied to any corporation, company, partnership, joint stock company, or association. See Kentucky Statutes 446.010
Effective: July 13, 1990
History: Created 1990 Ky. Acts ch. 440, sec. 10, effective July 13, 1990.