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15 U.S.C. § 77ff — Accounts and annual balance sheet of Corporation; audits

submitted 93 years ago by ch. 38 to r/title-15-COMMERCE-AND-TRADE · 68 words · no verdicts yet

in plain englishAI-generated · not legal advice

The Corporation's board must keep accounts of all its business. Each year it must prepare a general account and balance sheet. Independent auditors must examine and report on all the accounts.

The board of directors must keep records of everything connected to the Corporation's business and transactions. Each year, the board must prepare a general account and a balance sheet for the Corporation. The board must also have one or more auditors examine all the accounts and report their findings back to the board.
the actual law source: uscode.house.gov ↗public domain

The board of directors shall cause accounts to be kept of all matters relating to or connected with the transactions and business of the Corporation, and cause a general account and balance sheet of the Corporation to be made out in each year, and cause all accounts to be audited by one or more auditors who shall examine the same and report thereon to the board of directors.

Source credit: (May 27, 1933, ch. 38, title II, § 205, 48 Stat. 94.)

history & why it existsrecord from the source credit
  • 1933Enacted · Act of May 27, 1933, ch. 38 · 48 Stat. 94

A history note hasn’t been published yet. The record shows enactment by ch. 38 on 1933-05-27.

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