New York § 75 - 75Audit and annual report
Full text of New York New York Consolidated Laws § 75 — 75Audit and annual report, with citation guidance and answers to common questions.
§ 75. 75Audit and annual report
§ 75. Audit and annual report. Immediately after the close of each fiscal year, every cooperative corporation shall cause an audit to be made of its operations for such fiscal year. A written report of the audit, including a statement of services rendered by the corporation, with total amount of business transacted, balance sheet, income and expenses shall be submitted to the annual meeting of the corporation and shall at all times be available for inspection by any member. Such audit shall be made by an experienced bookkeeper or accountant or firm of accountants not regularly employed by the corporation, provided that in the case of a cooperative corporation, the annual business of which amounts to less than one hundred thousand dollars, the audit may be made by an auditing committee of three members or stockholders of the corporation who shall not be directors, officers, or employees thereof. Any person violating or failing to comply with the provisions of this section shall be deemed guilty of a misdemeanor.
Frequently Asked Questions About New York § 75
What does New York Consolidated Laws § 75 cover?
Section 75 ("75Audit and annual report") is part of the New York Consolidated Laws, the codified statutory law of New York. 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 New York § 75?
A common citation format is "New York Consolidated Laws § 75" (New York). 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 New York law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New York official source linked on this page or consult a licensed New York attorney.
How does New York § 75 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New York 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 New York.