The association is subject to examination and regulation by the department. The board of directors shall annually submit, to the department, by March thirtieth a financial report for the preceding calendar year in a form approved by the director or his designee.

HISTORY: Former 1976 Code SECTION 38-31-120 [1962 Code SECTION 37-312.1; 1969 (56) 699] recodified as SECTION 38-65-320 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-19-120 [1962 Code SECTION 37-831; 1971 (57) 1001] recodified as SECTION 38-31-120 by 1987 Act No. 155, SECTION 1; 1993 Act No. 181, SECTION 632.