Statute · California Business and Professions Code

Cal. Bus. & Prof. Code § 19440.5 — General Administration and Enforcement

Cal. Bus. & Prof. Code § 19440.5

Type: Statute
Source: California Business and Professions Code
Jurisdiction: California
Date: 2006-01-01
Current through: Nov 2, 2026 (California Legislative Counsel)

An annual audit shall be conducted of the financial books and records of the horsemen’s organizations, including any subsidiaries of the horsemen’s organizations, by a nationally recognized accounting firm as follows:

Citator

Cal. Bus. & Prof. Code § 19440.5 — General Administration and Enforcement is in force in the current edition of the Code, and nothing recorded condemns it.

(a) With respect to pension funds received by those organizations pursuant to Sections 19533, 19613, and 19613.1, the audit shall be conducted within 90 days of the close of the fund’s business year. The audit shall cover the period of time since the last audit, and a copy thereof shall be filed with the board, and the Senate and Assembly Committees on Governmental Organization.

(b) With respect to administrative funds and welfare funds received pursuant to Sections 19533, 19606.5, 19613, and 19641, the audit shall be conducted within 90 days of the close of the fund’s business year. The audit shall cover the period of time since the last audit, and a copy thereof shall be filed with the board, and the Senate and Assembly Committees on Governmental Organization.