355.846. Furnishing of financial statements. - Missouri Statutes

Furnishing of financial statements.

355.846. 1. Except as provided in the articles or bylawsof a public benefit corporation which is a church or conventionor association of churches, a corporation upon written demandfrom a member or resident shall furnish that member or residentits latest annual financial statements, which may be consolidatedor combined statements of the corporation and one or more of itssubsidiaries or affiliates, as appropriate, that include abalance sheet as of the end of the fiscal year and statement ofoperations for that year. If financial statements are preparedfor the corporation on the basis of generally accepted accountingprinciples, the annual financial statements must also be preparedon that basis.

2. If annual financial statements are reported upon by acertified public accountant, the accountant's report mustaccompany them. If not, the statements must be accompanied bythe statement of the president or the person responsible for thecorporation's financial accounting records:

(1) Stating the president's or other person's reasonablebelief as to whether the statements were prepared on the basis ofgenerally accepted accounting principles and, if not, describingthe basis of preparation; and

(2) Describing any respects in which the statements were notprepared on a basis of accounting consistent with the statementsprepared for the preceding year.

(L. 1994 H.B. 1095)

Effective 7-1-95