All references in this part, Part 2 (commencing with Section 5110), Part 3 (commencing with Section 7110), or Part 4 (commencing with Section 9110) to financial statements of a corporation mean statements prepared in conformity with generally accepted accounting principles or some other basis of accounting which reasonably sets forth the assets and liabilities and the income and expenses of the corporation and discloses the accounting basis used in their preparation.
Cal. Corp. Code § 5012
GENERAL PROVISIONS AND DEFINITIONS GOVERNING PARTS 1 THROUGH 5
Known as the Nonprofit Corporation Law
The act spans §§ 5000–10841 (129 sections).
Amended by Stats. 1983, Ch. 101, Sec. 11.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.