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§ 5-6B-28. Duties of governing body relating to books and records

West's Annotated Code of MarylandCorporations and AssociationsEffective: October 1, 2014

West's Annotated Code of Maryland
Corporations and Associations
Title 5. Special Types of Corporations (Refs & Annos)
Subtitle 6b. Maryland Cooperative Housing Corporation Act (Refs & Annos)
Effective: October 1, 2014
MD Code, Corporations and Associations, § 5-6B-28
§ 5-6B-28. Duties of governing body relating to books and records
(a) The governing body shall keep books and records in accordance with good accounting practices.
(b)(1)(i) Subject to subparagraph (ii) of this paragraph, on the request of the members of at least 5 percent of the units, the governing body shall cause an audit of the books and records to be made by an independent certified public accountant.
(ii) An audit may not be made more than once in any consecutive 12-month period.
(2) The cost of the audit shall be a common expense.

Credits

Added by Acts 2014, c. 567, § 2, eff. Oct. 1, 2014.
MD Code, Corporations and Associations, § 5-6B-28, MD CORP & ASSNS § 5-6B-28
Current through all legislation from the 2017 Regular Session of the General Assembly
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