(a) A licensee shall make and keep books, accounts, and other records in a form and manner that the commissioner may require. The records shall be kept at the place and shall be preserved for the length of time that the commissioner may specify.
Terms Used In Tennessee Code 45-8-215
Capital: means equity investments evidenced by stock, paid-in capital (amounting to, but not less than, fifty percent (50%) of its stock) and undivided profits. See Tennessee Code 45-8-203
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.
Licensee: means a Tennessee corporation that is licensed under this part. See Tennessee Code 45-8-203
(b) Not more than ninety (90) days after the close of each fiscal year of a licensee, or a longer period if specified by the commissioner, a licensee shall file with the commissioner an audited report containing the following:
(1) Financial statements, including balance sheet, statement of income or loss, statement of changes in capital accounts, and statement of changes in financial position;(2) A report, certificate, or opinion of an independent certified public accountant or independent public accountant who performs the audit, stating that the financial statements were prepared in accordance with generally accepted accounting principles; and(3) Other information that the commissioner may require.(c) In addition to the audited report required by subsection (b), a licensee shall file with the commissioner other reports and at times that the commissioner may require. Any report required by the commissioner under this section shall be in a form and shall contain information that the commissioner may specify.
