California Code of Regulations
Title 10 - Investment
Chapter 2 - Savings and Loan Commissioner
Subchapter 5 - Operations-Accounting
Article 3 - Independent Audits
Section 105.304 - Filing Procedures
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
(a) Two copies of the audited financial statements and of each supplemental or letter report shall be filed with the Commissioner and shall be due at the end of the third month after the end of the period covered by the audit. The Commissioner may extend the due date upon receipt of a letter from the statutory auditor which contains a satisfactory reason for late filing.
(b) The association shall also file either (1) a certificate by the secretary of the association certifying that at a meeting of the board of directors the directors were presented for consideration the financial statements and each supplemental report or (2) a certified copy of an extract from the minutes of a meeting of the board of directors at which such documents were presented for consideration.
(c) Within 45 days after the receipt of the letter report from the statutory auditor, the association shall submit a letter to the commissioner describing the action taken to correct the deficiencies contained in the letter report accompanied by either (1) a certificate by the secretary of the association certifying that at the meeting of the board of directors the named directors have approved the corrective action described in the association's letter or (2) a certified copy of an extract from the minutes of a meeting of the board of directors at which approval of such corrective action was given.
1. Change without regulatory effect renumbering former Section 164 to Section 105.304 (Register 87, No. 14). For prior history, see Register 82, No. 21.
Note: Authority cited: Section 5255, Financial Code. Reference: Section 8751, Financial Code.
