Rhode Island General Laws 42-116-26. Record keeping – Financial statements
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The corporation shall, at all times, keep full and accurate accounts of its receipts, expenditures, disbursements, assets, and liabilities which shall be open to inspection by any officer or appointed agent of the state. The corporation shall submit an annual report, in writing, to the general assembly and the general officers. The report shall include financial statements relating to the operations, properties, and expenditures of the corporation maintained in accordance with generally accepted accounting principles. The auditor general shall perform or have performed an annual audit of the financial statements of the corporation.
History of Section.
P.L. 1991, ch. 3, § 4.
Terms Used In Rhode Island General Laws 42-116-26
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: means the Rhode Island depositors economic protection corporation. See Rhode Island General Laws 42-116-3
- 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.
- in writing: include printing, engraving, lithographing, and photo-lithographing, and all other representations of words in letters of the usual form. See Rhode Island General Laws 43-3-16
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.