§ 58-20-30. Financial monitoring and evaluation of clubs. - North Carolina Statutes

§58‑20‑30.  Financial monitoring and evaluation of clubs.

Each club shall be auditedannually, at the Club's expense, by a certified public accounting firm. A copyof the audit report shall be furnished to each member, and to the Commissioner.The trustees shall obtain an appropriate actuarial evaluation of the loss andloss adjustment expenses reserves of the Club, including estimate of losses andloss adjustment expenses incurred but not reported. The provisions of G.S. 58‑2‑131through G.S. 58‑2‑134, G.S. 58‑2‑150, 58‑2‑160,58‑2‑165, 58‑2‑180, 58‑2‑185, 58‑2‑190,58‑2‑200, and G.S. 58‑6‑5 apply to each Club and topersons that administer the Clubs. (1987, c. 330, s. 1; 1991, c.681, s. 5; 1999‑132, s. 11.2.)