17:12B-189 - Financial statements by commissioner
17:12B-189.Ā Financial statements by commissioner
At least annually, and upon the termination of his possession of the assetsĀ of a State association, the commissioner shall submit a financial statement andĀ report of the affairs of each State association in his possession, or inĀ liquidation by him to each of the members thereof.Ā Such statement and reportĀ shall include a statement of assets and liabilities, a statement of operations,Ā including an itemized statement of all fees and salaries paid to each specialĀ assistant deputy commissioner, agent and counsel of such State association, andĀ a statement showing the extent of the liquidation of its assets and theĀ application of the proceeds thereof. The first such report shall be submittedĀ to the members not later than 1 year from the date when the commissioner takesĀ possession, or in the case of a State association in possession of theĀ commissioner, when this act takes effect, not later than 1 year from suchĀ effective date.
L.1963, c. 144, s. 189.
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At least annually, and upon the termination of his possession of the assetsĀ of a State association, the commissioner shall submit a financial statement andĀ report of the affairs of each State association in his possession, or inĀ liquidation by him to each of the members thereof.Ā Such statement and reportĀ shall include a statement of assets and liabilities, a statement of operations,Ā including an itemized statement of all fees and salaries paid to each specialĀ assistant deputy commissioner, agent and counsel of such State association, andĀ a statement showing the extent of the liquidation of its assets and theĀ application of the proceeds thereof. The first such report shall be submittedĀ to the members not later than 1 year from the date when the commissioner takesĀ possession, or in the case of a State association in possession of theĀ commissioner, when this act takes effect, not later than 1 year from suchĀ effective date.
L.1963, c. 144, s. 189.
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