• Current through October 23, 2012

To record its business operation, every association shall keep a set of books, which shall be audited at the end of each fiscal year by an experienced bookkeeper or accountant, who shall not be an officer or director. If the annual business amounts to less than $10,000, the audit may be performed by an auditing committee of 3, who shall not be directors, officers, or employees. A written report of the audit, including a statement of the amount of business transacted with members and the amount transacted with nonmembers, the balance sheet, and the income and expenses, shall be submitted to the annual meeting of the association.

(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.)


Prior Codifications

2001 Ed., § 29-933.

1981 Ed., § 29-1123.

1973 Ed., § 29-823.

Legislative History of Laws

For history of Law 18-378, see notes under § 29-101.01.

Editor's Notes

Former § 29-933 has been recodified as § 29A-933.