Browse Arkansas Code titles and sections
4-27-1620. Financial statements for shareholders.
Arkansas Code — all titles (historical 2020) · legal_authorities
4-27-1620. Financial statements for shareholders.
(a) A corporation shall furnish its shareholders annual financial statements, which may be consolidated or combined statements of the corporation and one (1) or more of its subsidiaries, as appropriate, that include a balance sheet as of the end of the fiscal year, an income statement for that year, and a statement of changes in shareholders' equity for the year unless that information appears elsewhere in the financial statements. 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 the annual financial statements are reported upon by a public accountant, his report must accompany them. If not, the statements must be accompanied by a statement of the president or the person responsible for the corporation's accounting records:
(1) stating his or her reasonable belief 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 a basis of accounting consistent with the statements prepared for the preceding year.
(c) A corporation shall furnish the annual financial statements to each shareholder within one hundred twenty (120) days after the close of each fiscal year. Thereafter, on written request from a shareholder who was not furnished the statements, the corporation shall furnish the shareholder the latest financial statements.
(d)(1) The requirement to furnish annual financial statements as described in subsection (c) of this section may be satisfied by sending annual financial statements to the shareholder's las
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-27-1620
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:4-27-1620
Source file: gov.ar.code.title.04.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 2fdf765c62cef06ca6fbe57c008963839d8d6e30ae995c4d85caab4159f8ab0a
Source location: content.xml paragraph 18056
Stored source content
4-27-1620. Financial statements for shareholders.
(a) A corporation shall furnish its shareholders annual financial statements, which may be consolidated or combined statements of the corporation and one (1) or more of its subsidiaries, as appropriate, that include a balance sheet as of the end of the fiscal year, an income statement for that year, and a statement of changes in shareholders' equity for the year unless that information appears elsewhere in the financial statements. 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 the annual financial statements are reported upon by a public accountant, his report must accompany them. If not, the statements must be accompanied by a statement of the president or the person responsible for the corporation's accounting records:
(1) stating his or her reasonable belief 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 a basis of accounting consistent with the statements prepared for the preceding year.
(c) A corporation shall furnish the annual financial statements to each shareholder within one hundred twenty (120) days after the close of each fiscal year. Thereafter, on written request from a shareholder who was not furnished the statements, the corporation shall furnish the shareholder the latest financial statements.
(d)(1) The requirement to furnish annual financial statements as described in subsection (c) of this section may be satisfied by sending annual financial statements to the shareholder's last known address as shown in the corporation's records by mail or, if a shareholder has provided an appropriate address for sending notices to the shareholder, by electronic mail or facsimile transmission.
(2) So long as a corporation has an outstanding class of securities registered under section 12 of the Securities Exchange Act of 1934, 15 U.S.C. § 78a et seq., the requirement to furnish annual financial statements may also be satisfied by the corporation's compliance with 17 C.F.R. § 240.14a-16, as it existed on January 1, 2017, with respect to the obligation of a corporation to furnish an annual financial report to shareholders in accordance with 17 C.F.R. § 240.14a-3(b), as it existed on January 1, 2017.
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Federal law — U.S. Code and appendices · legal_authorities
This chapter may be cited as the “Securities Exchange Act of 1934.”
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 78a
Stored review status: release_metadata_unconfirmed. The source passage cites 15 U.S.C. § 78a. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
Page 202
TITLE 15—COMMERCE AND TRADE
§ 78a
Sec.
78m.
Periodical and other reports.
78m–1.
Reporting and recordkeeping for certain secu-
rity-based swaps.
78m–2.
Reporting requirements regarding coal or
other mine safety.
78n.
Proxies.
78n–1.
Shareholder approval of executive compensa-
tion.
78n–2.
Corporate governance.
78o.
Registration and regulation of brokers and
dealers.
78o–1.
Brokers deemed to be registered.
78o–2.
Liabilities arising prior to amendment unaf-
fected.
78o–3.
Registered securities associations.
78o–4.
Municipal securities.
78o–4a.
Commission Office of Municipal Securities.
78o–5.
Government securities brokers and dealers.
78o–6.
Securities analysts and research reports.
78o–7.
Registration of nationally recognized statis-
tical rating organizations.
78o–8.
Universal ratings symbols.
78o–9.
Study and rulemaking on assigned credit rat-
ings.
78o–10.
Registration and regulation of security-based
swap dealers and major security-based swap
participants.
78o–11.
Credit risk retention.
78p.
Directors,
officers,
and
principal
stock-
holders.
78q.
Records and reports.
78q–1.
National system for clearance and settlement
of securities transactions.
78q–2.
Automated quotation systems for penny
stocks.
78r.
Liability for misleading statements.
78s.
Registration, responsibilities, and oversight
of self-regulatory organizations.
78t.
Liability of controlling persons and persons
who aid and abet violations.
78t–1.
Liability to contemporaneous traders for in-
sider trading.
78u.
Investigations and actions.
78u–1.
Civil penalties for insider trading.
78u–2.
Civil remedies in administrative proceedings.
78u–3.
Cease-and-desist proceedings.
78u–4.
Private securities litigation.
78u–5.
Applic
Source: Supplied 2024 U.S. Code historical extraction · 15 U.S.C. § 78a
Stored review status: historical_2024_not_currentness_verified. The source passage cites 15 U.S.C. § 78a. This identifies an authority to review, not proof of applicability.