Section 10-13-11 Annual report. - Alabama Statutes

Section 10-13-11

Annual report.

(a) Each year, a real estate investment trust doing business in this state shall prepare an annual report of its operations. The report shall include a balance sheet, an income statement, and a surplus statement.

(b) The financial statements in the annual report shall be certified by an independent certified public accountant based on the accountant's full examination of the books and records of the real estate investment trust in accordance with generally accepted auditing procedures.

(c) The annual report:

(1) Shall be submitted to shareholders at or before the annual meeting of shareholders.

(2) Within the earlier of 20 days after the annual meeting of shareholders or 120 days after the end of the fiscal year, shall be placed on file at the principal office of the real estate investment trust.

(Acts 1995, No. 95-628, p. 1317, §11.)