(a) A corporation upon request in writing or by electronic transmission from a member shall furnish that member its latest prepared annual financial statements, which may be consolidated or combined statements of the corporation and one or more of its subsidiaries or affiliates, in reasonable detail as appropriate, that include a balance sheet as of the end of the fiscal year and statement of operations for that year. If financial statements are prepared for the corporation on the basis of generally accepted accounting principles, the annual financial statements must also be prepared on that basis.(b) If annual financial statements are reported upon by a public accountant, the accountant's report must accompany them. If not, the statements must be accompanied by the statement of the chief executive officer or the person responsible for the corporation's financial accounting records: (1) Stating the chief executive officer's or other person's reasonable belief as to whether the statements were prepared on the basis of generally accepted accounting principles and, if not, describing the basis of preparation; and(2) Describing any respects in which the statements were not prepared on ts were prepared on the basis of generally accepted accounting principles and, if not, describing the basis of preparation; and(2) Describing any respects in which the statements were not prepared on a basis of accounting consistent with the statements prepared for the preceding year.Amended by 2023 Ga. Laws 260,§ 1-1, eff. 7/1/2023.Amended by 2004 Ga. Laws 533, § 63, eff. 7/1/2004.
Georgia Legal Code