It is recommended but not required that an association close its books semi-annually. The annual meeting of the association shall be within three (3) months of the closing of the books.

Authority: T.C.A. §§45-3-402, 45-3-404, and 45-3-801. Administrative History: Original rule certified June 10, 1974. Repeal and new rule filed June 30, 1980; effective September 15, 1980. Transferred from the Department of Commerce and Insurance by Executive Order Number 38; effective February 11, 1983.