§ 7-8-30 - Annual audit of books.
SECTION 7-8-30
§ 7-8-30 Annual audit of books. – Every association shall have its books audited at the end of its fiscal year byan experienced bookkeeper or accountant, who shall not be an officer ordirector. Where the annual business amounts to less than ten thousand dollars($10,000), the audit may be performed by a committee of three (3), who shallnot be directors, officers, or employees. A written report of the audit, thebalance sheet, and the income and expenses, shall be submitted to the annualmeeting of the association.