2006 Louisiana Laws - RS 3:538 — Audit and publications

§538.  Audit and publications

A.  Immediately after the close of each fiscal year, every facility shall cause an audit to be made of its operations for the fiscal year.  This audit shall be made by a certified public accountant, or firm of accountants not regularly employed by the facility for its accounting purposes, or, with the approval of the proper state official, by a regular state accounting agency.  Within ninety days after the close of its fiscal year each facility shall file with the State Market Commission a copy of the audit together with the names of the officers and directors of the facility.  Whoever violates this subsection A shall be fined not more than one hundred dollars or imprisoned not more than thirty days or both.

B.  Every authority established hereunder shall keep such records and make such reports to the State Market Commission as may be required by its chairman.

C.  In case an authority shall fail or refuse to keep records and to make reports required by subsection B, the chairman of the State Market Commission through the district attorneys of the several parishes may in his discretion institute the necessary proceedings, legal or otherwise, to have the directors responsible for their failure or refusal, removed from office as provided in R.S. 3:532.