Texas Finance Code 96.051 – Annual Audit
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(a) Not later than the 90th day after the date its fiscal year closes, a savings bank shall obtain an audit by an independent accounting firm that is a member of the American Institute of Certified Public Accountants or its successor.
(b) A copy of the audit and all correspondence reasonably related to the audit shall be provided to the commissioner.
Terms Used In Texas Finance Code 96.051
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(c) The finance commission may adopt rules as necessary to implement this section.
(d) Repealed by Acts 2013, 83rd Leg., R.S., Ch. 464, Sec. 15(4), eff. September 1, 2013.