N.D. Cent. Code § 10-19.1-85
This is the official text of N.D. Cent. Code § 10-19.1-85, part of North Dakota’s Cent. Code — part of the compiled statutory law of North Dakota, published by the state as "Cent. Code." Browse the sections below, each linked to its official government source.
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10-19.1-85. Financial statements
Official statutory text
10-19.1-85. Financial statements
1. A corporation shall, upon the written request of a shareholder, prepare annual financial
statements within one hundred eighty days after the close of the corporation's fiscal
year, including at least a balance sheet as of the end of the fiscal year and a statement
of income for the fiscal year, prepared on the basis of accounting methods reasonable
in the circumstances. The financial statements may be consolidated statements of the
corporation and one or more of its subsidiaries.
a. If the statements are audited by a public accountant, each copy must be
accompanied by a report setting forth the opinion of the accountant on the
statements.
b. If these statements are not audited by a public accountant, each copy must be
accompanied by a statement of the treasurer or other person in charge of the
corporation's financial records:
(1) Stating the reasonable belief of the person that the financial statements
were prepared in accordance with accounting methods reasonable in the
circumstances;
(2) Describing the basis of presentation; and
(3) Describing any respects in which the financial statements were not prepared
on a basis consistent with those prepared for the previous year.
2. Upon written request by a shareholder, a corporation shall furnish its most recent
annual financial statements as required under subsection 1 no later than ten business
days after receipt of a shareholder's written request. "Furnish" for purposes of this
subsection means that the corporation shall deliver or mail, postage prepaid, the
financial statements to the address specified by the requesting shareholder.
1. A corporation shall, upon the written request of a shareholder, prepare annual financial
statements within one hundred eighty days after the close of the corporation's fiscal
year, including at least a balance sheet as of the end of the fiscal year and a statement
of income for the fiscal year, prepared on the basis of accounting methods reasonable
in the circumstances. The financial statements may be consolidated statements of the
corporation and one or more of its subsidiaries.
a. If the statements are audited by a public accountant, each copy must be
accompanied by a report setting forth the opinion of the accountant on the
statements.
b. If these statements are not audited by a public accountant, each copy must be
accompanied by a statement of the treasurer or other person in charge of the
corporation's financial records:
(1) Stating the reasonable belief of the person that the financial statements
were prepared in accordance with accounting methods reasonable in the
circumstances;
(2) Describing the basis of presentation; and
(3) Describing any respects in which the financial statements were not prepared
on a basis consistent with those prepared for the previous year.
2. Upon written request by a shareholder, a corporation shall furnish its most recent
annual financial statements as required under subsection 1 no later than ten business
days after receipt of a shareholder's written request. "Furnish" for purposes of this
subsection means that the corporation shall deliver or mail, postage prepaid, the
financial statements to the address specified by the requesting shareholder.
Status: in_force · Read it on the official government site
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