The corporate records of each association shall be kept at the association's offices, and not in the offices of attorneys, accountants, directors, stockholders, officers, or employees. All records of the association shall immediately be made available to the Commissioner, his deputies, examiners or appraisers upon demand as set forth in Sections 8801 and 9001 of the law.

The accounting year for all associations shall be the calendar year.

Associations are required to retain in their possession documents necessary to facilitate the verification of receipts and disbursements, income and expense.

Note: Authority cited: Section 5255, Financial Code. Reference: Sections 8702 and 8800.1, Financial Code.

History

1. Change without regulatory effect renumbering former Section 102 to Section 105.101 (Register 87, No. 14). For prior history, see Register 83, No. 49.