(1) Every savings association shall, on January 1 of each year, or within 30 days thereafter, file with the Director of the Department of Consumer and Business Services a full detailed statement of its financial condition on the last day of the preceding month and of the business transacted during the preceding year. The statement shall be verified and shall set forth the amount and the character of its assets and liabilities and shall contain such other information and be in such form as the director may prescribe.
(2) The director may require additional statements from any or all associations, as of the close of business at any date. The director shall allow not less than 10 days in which to prepare and file a report under this subsection.
(3) Every savings association shall once each year cause an audit to be made of its financial condition by an independent auditor. A copy in full of the audit required by this subsection, and of any other audit made by an association, with findings of the auditor and all statements, comments and recommendations made by the auditor on the audit, shall be filed with the director forthwith but not later than 120 days after the last day of the period audited. The director shall review all audits and reports and may approve or reject any report, in whole or in part. [Formerly 722.165]
Section: Previous 722.419 722.420 722.422 722.424 722.425 722.430 722.432 722.434 722.435 722.436 722.438 722.440 722.442 722.444 722.445 NextLast modified: August 7, 2008