California Financial Code

§ 8156

FIN § 8156Div. 2 · Ch. 7 · Art. 4

Statute text

(a)Each association shall at least annually cause its books and accounts to be audited at its own expense by a certified public accountant or firm of certified public accountants selected by the association and approved by the commissioner.

(b)The annual audit date and audit period shall be approved in writing by the commissioner prior to commencement of the audit.

(c)Each savings association which engages certified public accountant services for any audit shall transmit to the accountant or accountants copies of the most recent report of condition made by the association pursuant to state or federal law and a copy of the most recent report of examination received by the savings association.

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Legislative history

Amended by Stats. 1990, Ch. 1118, Sec. 47.