§ 2-313. Annual statement of affairs

   (a) Preparation and contents of statement. -- The president or, if provided in the bylaws, some other executive officer of each corporation shall prepare annually a full and correct statement of the affairs of the corporation, to include a balance sheet and a financial statement of operations for the preceding fiscal year.

(b) Disposition of statement. -- Except as provided in subsection (c) of this section, the statement of affairs shall be submitted at the annual meeting of stockholders and, within 20 days after the meeting, placed on file at the corporation's principal office or at any other office or agency specified in the bylaws of the corporation, in written form or in any other form that may be converted within a reasonable time into written form for visual inspection.

(c) Disposition of statement in absence of stockholders' meeting. -- If a corporation is not required to hold an annual meeting of stockholders under a charter or bylaw provision adopted in accordance with § 2-501 of this title, the statement of affairs shall be placed on file at the corporation's principal office or at any other office or agency specified in the bylaws of the corporation, within 120 days after the end of the fiscal year, in written form or in any other form that may be converted within a reasonable time into written form for visual inspection.

HISTORY: An. Code 1957, art. 23, § 49; 1975, ch. 311, § 2; 1988, ch. 280, § 2; ch. 281, § 2; 1989, ch. 715; 2009, chs. 295, 296.