Rhode Island General Laws 45-37.1-11. Annual report and audit
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Within four (4) months after the close of each fiscal year of the corporation, it shall make a report to the governor of its activities for the preceding fiscal year, and the report shall disclose a complete operating and financial statement covering the corporation‘s operations during the preceding fiscal year. The corporation shall cause an audit of its books and accounts to be made at least once each fiscal year by certified public accountants, and the cost of the audit shall be paid by the corporation from funds available to it pursuant to this chapter.
History of Section.
P.L. 1967, ch. 11, § 1.
Terms Used In Rhode Island General Laws 45-37.1-11
- 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: means the Rhode Island industrial facilities corporation, created and established as a nonbusiness corporation under and pursuant to chapter 6 of Title 7, as amended, and constituted and established as a public body corporate and agency of the state by § 45-37. See Rhode Island General Laws 45-37.1-3
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.