5553 - Annual report of directors or other body.
§ 5553. Annual report of directors or other body. (a) Contents.--The board of directors or other body shall present annually to the members a report, verified by the president and treasurer or by a majority of the directors or members of such other body, showing in appropriate detail the following: (1) The assets and liabilities, including the trust funds, of the corporation as of the end of the fiscal year immediately preceding the date of the report. (2) The principal changes in assets and liabilities including trust funds, during the year immediately preceding the date of the report. (3) The revenue or receipts of the corporation, both unrestricted and restricted to particular purposes, for the year immediately preceding the date of the report, including separate data with respect to each trust fund held by or for the corporation. (4) The expenses or disbursements of the corporation, for both general and restricted purposes, during the year immediately preceding the date of the report, including separate data with respect to each trust fund held by or for the corporation. (5) The number of members of the corporation as of the date of the report, together with a statement of increase or decrease in such number during the year immediately preceding the date of the report, and a statement of the place where the names and addresses of the current members may be found. (b) Place of filing.--The annual report of the board of directors or other body shall be filed with the minutes of the meetings of members. (c) Report in absence of meeting of members.--The board of directors or other body of a corporation having no members shall direct the president and treasurer to present at the annual meeting of the board or of such other body a report in accordance with subsection (a) of this section, but omitting the requirement of paragraph (5) thereof. Such report shall be filed with the minutes of the annual meeting of the board or of such other body. Cross References. Section 5553 is referred to in section 6145 of this title.