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SF 971

1st Engrossment - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

KEY: stricken = removed, old language.
underscored = added, new language.
Version List Authors and Status
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A bill for an act
 relating to public finance; modifying requirements
relating to financial statements; amending Minnesota
Statutes 2004, section 80A.25, subdivision 3.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2004, section 80A.25,
subdivision 3, is amended to read:


Subd. 3.

Financial statements.

The commissioner may by
rule or order prescribe (a) the form and content of financial
statements required under sections 80A.01 to 80A.31, (b) the
circumstances under which consolidated financial statements
shall be filed, and (c) whether any required financial
statements shall be certified by independent or certified public
accountants. All financial statements shall be prepared in
accordance with generally accepted accounting principles unless
otherwise permitted by rule or order. new text begin The commissioner may not
require, as a condition of registration, the consent of the
independent or certified public accountants to the use of
financial statements in the offering documents.
new text end