3.15 Corporate Reports

• Jurisdiction: Arizona

A.R.S. Sec. 10-11620 requires that financial reports be provided to members upon request. The corporation must, on written demand from a member, provide its latest financial statements 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 basisof "generally accepted accounting principles," the annual financial statements must also be prepared on that basis. If a certified public accountant...