(a) Each licensee shall, within ninety (90) days after the end of each fiscal year, or within any extended time as the commissioner may prescribe, file with the commissioner: (1) An audited financial statement of the licensee for the fiscal year prepared in accordance with United States generally accepted accounting principles; and(2) Any other information as the commissioner may reasonably require.(b) The audited financial statements must be prepared by an independent certified public accountant or independent public accountant who is satisfactory to the commissioner.(c) The audited financial statements must include or be accompanied by a certificate of opinion of the independent certified public accountant or independent public accountant that is satisfactory in form and content to the commissioner. If the certificate or opinion is qualified, the commissioner may order the licensee to take any action as the commissioner may find necessary to enable the independent or certified public accountant or independent public accountant to remove the qualification.Amended by 2023 Tenn. Acts, ch. 115, s 1, eff. 1/1/2024.Acts 1994, ch. 715, § 1; T.C.A., § 45-7-221.
Tennessee Legal Code