Michigan Laws 333.27701 – Financial statements
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Terms Used In Michigan Laws 333.27701
- Licensee: means a person holding a state operating license. See Michigan Laws 333.27102
- Marijuana regulatory agency: means the marijuana regulatory agency created under Executive Reorganization Order No. See Michigan Laws 333.27102
- Municipality: means a city, township, or village. See Michigan Laws 333.27102
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
Every 3 years, or a shorter time period as determined by the marijuana regulatory agency, a licensee shall transmit to the marijuana regulatory agency and to the municipality financial statements of the licensee’s total operations. The financial statements must be reviewed by a certified public accountant in a manner and form prescribed by the marijuana regulatory agency. The certified public accountant must be licensed in this state under article 7 of the occupational code, 1980 PA 299, MCL 339.720 to 339.736. The compensation for the certified public accountant must be paid directly by the licensee to the certified public accountant.