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Texas Finance Code - FIN § 275.102. Audits and Reports

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) At least once each year, a mutual trust investment company shall cause an adequate audit to be made of the company by auditors responsible only to the board of directors of the company.

(b) A mutual trust investment company shall furnish annually a copy of the company's audited financial statement to each corporate fiduciary owning stock in the company.

(c) The mutual trust investment company shall pay the:

(1) reasonable expenses of an audit required by this section made by an independent public accountant or certified public accountant;  and

(2) costs of preparing and distributing a report required by this section.

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Cite this article: FindLaw.com - Texas Finance Code - FIN § 275.102. Audits and Reports - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-275-102/

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