2009 Kentucky Revised Statutes CHAPTER 381 TITLE TO PROPERTY AND RESTRICTIONS ON USE, OWNERSHIP, AND ALIENATION 381.865 Books of account -- Inspection -- Audit. (Effective until January 1, 2011)
381.865 Books of account -- Inspection -- Audit. (Effective until January 1, 2011)
The administrator, or board of administration, or the person appointed pursuant to the <br>bylaws of the regime, shall keep a book with a detailed account of the receipts and <br>expenditures affecting the project and its administration and specifying the maintenance <br>and repair expenses of the common elements and any other common expenses incurred <br>by or in behalf of the regime. Both the book and vouchers accrediting the entries made <br>thereon shall be available for examination by all the co-owners at convenient hours on <br>working days that shall be set and announced for general knowledge. All books and <br>records shall be kept in accordance with good accounting procedures and be audited at <br>least once a year by an auditor outside of the organization.
History: Amended 1974 Ky. Acts ch. 381, sec. 9. -- Created 1962 Ky. Acts ch. 205,
sec. 13.
381.865 Books of account -- Inspection -- Audit or review by independent
accountant. (Effective January 1, 2011)
The administrator, or board of administration, or the person appointed pursuant to the <br>bylaws of the regime, shall keep a book with a detailed account of the receipts and <br>expenditures affecting the project and its administration and specifying the maintenance <br>and repair expenses of the common elements and any other common expenses incurred <br>by or in behalf of the regime. Both the book and vouchers accrediting the entries made <br>thereon shall be available for examination by all the co-owners at convenient hours on <br>working days that shall be set and announced for general knowledge. All books and <br>records shall be kept in accordance with good accounting procedures and be audited or <br>reviewed at least once a year by an independent accountant outside of the organization.
Effective: January 1, 2011 <br>History: Amended 2010 Ky. Acts ch. 97, sec. 55, effective January 1, 2011. --
Amended 1974 Ky. Acts ch. 381, sec. 9. -- Created 1962 Ky. Acts ch. 205, sec. 13.
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