The treasurer of every such company shall enter in books provided for the purpose a correct account of all assessments made, of all sums by him received and paid out for the company, and of all evidences of debt and other assets belonging to the company coming into his possession. He shall balance his accounts yearly, prior to the annual meeting, and shall report to the company, at that time, its financial standing as shown by the books. Any treasurer who neglects to comply with either of the provisions of this section shall be fined $25.