Idaho § 69-521 - Financial statements
Full text of Idaho Idaho Statutes § 69-521 — Financial statements, with citation guidance and answers to common questions.
§ 69-521. Financial statements
In order to obtain a commodity dealer’s license, the applicant shall submit an audited or reviewed financial statement prepared by an independent certified public accountant or licensed public accountant, a statement of current assets and current liabilities and a statement of net worth, all of which shall be prepared in accordance with generally accepted accounting principles. This statement must have been prepared not more than ninety (90) days prior to the date of application and shall conform to the applicable requirements of this chapter as to annual financial statements.
Once licensed, every licensee shall annually prepare a financial statement either at the close of business, December 31, or at the end of their fiscal year and file the statement with the department not later than ninety (90) days thereafter. These statements shall be prepared in conformity with generally accepted accounting principles and shall include, but not be limited to, a reviewed financial statement prepared by an independent certified public accountant or licensed public accountant, a statement of current assets and current liabilities, and a statement of net worth.
[69-521, added 1983, ch. 116, sec. 13, p. 257; am. 1989, ch. 300, sec. 3, p. 749; am. 1990, ch. 184, sec. 8, p. 412; am. 2002, ch. 258, sec. 10, p. 755.]
Frequently Asked Questions About Idaho § 69-521
What does Idaho Statutes § 69-521 cover?
Section 69-521 ("Financial statements") is part of the Idaho Statutes, the codified statutory law of Idaho. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Idaho § 69-521?
A common citation format is "Idaho Statutes § 69-521" (Idaho). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Idaho law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Idaho official source linked on this page or consult a licensed Idaho attorney.
How does Idaho § 69-521 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Idaho can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Idaho.