13.1-333.1 - Annual reports. - Virginia Statutes

§ 13.1-333.1. Annual reports.

Each association subject to this chapter within six months after the close ofits fiscal year shall transmit to each of its members an annual reportcontaining the name of the association, its place of business, a generalstatement of its business operations during the fiscal year, showing theamount of capital stock paid up and the number of stockholders, if a stockcorporation, or the number of members and the amount of the membership feesreceived, if a nonstock association; an income and expense statement; and itsbalance sheet. Any association audited by a certified public accountant maycomply with this section by transmitting a copy of such audit to its members.

The term "transmit," as used in this section, may be satisfied by printingthe annual report or audit in an official publication of the association.

(1989, c. 465.)