§435E-19  Annual reports; disclosure. 
The board of trustees shall furnish the following to each member participating
in such interindemnity arrangement, and shall file a copy with the
commissioner:



(1)  Within one hundred twenty days after the end of
each fiscal year a statement of the assets and liabilities of the
interindemnity arrangement as of the end of such year, a statement of the
revenue and expenditures of the interindemnity arrangement, and a statement of
the changes in corpus of the reserve trust for such year, in each case
accompanied by a certificate signed by a firm of independent certified public
accountants selected by the board of trustees indicating that such firm has
conducted an audit of such statements in accordance with generally accepted
auditing standards and indicating the results of such audit.



(2)  Within forty-five days after the end of each of
the first three quarterly periods of each fiscal year a statement of the assets
and liabilities of the interindemnity arrangement as of the end of such
quarterly period, a statement of the revenue and expenditures of the
interindemnity arrangement and a statement of the changes in corpus of the
reserve trust for such period, in each case accompanied by a certificate signed
by a majority of the members of the board of trustees to the effect that such
statements were prepared from the official books and records of the
interindemnity arrangement.



In addition to the statements required to be filed
pursuant to this section, the board of trustees shall annually file with the
commissioner an authorization for disclosure of all financial records
pertaining to the interindemnity arrangement.  For the purpose of this
paragraph, the authorization for disclosure shall also include the financial
records of any association, partnership, or corporation that has management or
control of the funds or the operation of the interindemnity arrangement. [L
1977, c 182, pt of §1; am L 1982, c 203, §16]