[§414D-306]  Financial statements for
members.  (a)  A corporation upon written demand from a member shall
furnish that member its latest annual financial statements, which may be
consolidated or combined statements of the corporation and one or more of its
subsidiaries or affiliates, as appropriate, that include a balance sheet as of
the end of the fiscal year and statement of operations for that year.  If
financial statements are prepared for the corporation on the basis of generally
accepted accounting principles, the annual financial statements must also be
prepared on that basis.



(b)  If annual financial statements are
reported upon by a public accountant, the accountant's report must accompany
them.  If not, the statements must be accompanied by the statement of the
president or the person responsible for the corporation's financial accounting
records:



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



(2)  Describing any respects in which the statements
were not prepared on a basis of accounting consistent with the statements
prepared for the preceding year. [L 2001, c 105, pt of §1]