Michigan Compiled Laws § 490.382 Fiscal Year; Accounting Principles.

490.382 Fiscal year; accounting principles.

Sec. 382.

(1) A domestic credit union shall use the calendar year as its fiscal year.

(2) A domestic credit union shall follow generally accepted accounting principles in its accounting, unless a different accounting standard is required by state or federal statute, rule, or regulation.

History: 2003, Act 215, Eff. June 1, 2004 ;-- Am. 2004, Act 471, Imd. Eff. Dec. 28, 2004

Section: 490.381  490.382  490.383  490.384  490.385  490.386  490.387    Next

Last modified: October 10, 2016