Source: https://code.dccouncil.us/dc/council/code/titles/29/chapters/3/subchapters/XIII/
Timestamp: 2019-08-25 01:00:59
Document Index: 40236192

Matched Legal Cases: ['§ 29', '§ 29', '§ 29', '§ 2', '§ 2', '§ 29', '§ 29', '§ 29']

D.C. Law Library - Subchapter XIII. Records and Reports.
Subchapter XIV. Transition Provisions.
§§ 29-313.01 – 29-313.06
§§ 29-313.07 – 29-313.07
§ 29–313.07. Financial statements for shareholders.
(a) A corporation shall deliver to its shareholders annual financial statements, which may be consolidated or combined statements of the corporation and one or more of its subsidiaries, as appropriate, that include a balance sheet as of the end of the fiscal year, an income statement for that year, and a statement of changes in shareholders’ equity for the year unless that information appears elsewhere in the financial statements. If financial statements are prepared for the corporation on the basis of generally accepted accounting principles, the annual financial statements shall also be prepared on that basis.
(b) If the annual financial statements are reported upon by a public accountant, the report shall accompany them. If not, the statements shall be accompanied by a statement of the president or the person responsible for the corporation’s accounting records:
(1) Stating such person’s reasonable belief whether the statements were prepared on the basis of generally accepted accounting principles and, if not, describing the basis of preparation; and
(c) A corporation shall mail the annual financial statements to each shareholder within 120 days after the close of each fiscal year. Thereafter, on written request from a shareholder that was not sent the statements, the corporation shall mail the shareholder the latest financial statements.
(d) A public corporation may fulfill its responsibilities under this section by delivering the specified financial statements or otherwise making them available in any manner permitted by the applicable rules and regulations of the United States Securities and Exchange Commission.
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(c)(35), 59 DCR 13171.)
This section is referenced in § 29-311.10, § 29-311.14, and § 29-313.01.
The 2013 amendment by D.C. Law 19-210 substituted “sent” for “mailed” in (c); and added (d).